China's Moonshot AI has paused new subscriptions for its Kimi K3 model after a sharp demand surge pushed operational capacity to its limits, ensuring stability for current users.

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.

Chinese start-up Moonshot AI’s new Kimi K3 boasts a performance close to OpenAI and Anthropic’s latest models.