Moonshot AI plans a Hong Kong IPO at up to $30 billion valuation after its Kimi K3 model with 2.8 trillion parameters triggered US tech stock selloffs.

Moonshot's Kimi K3 AI model disrupts global markets, causing Alphabet's odds of being the second-largest company by market cap on July 31 to drop to 9.5% YES.

Moonshot AI's Kimi K3 model rattled global markets, sending rival AI stocks down as much as 27% while raising questions about AI sector valuations.