Just days after launching Kimi K3, Moonshot AI temporarily suspended new subscriptions, saying demand had overwhelmed its computing capacity.

Moonshot AI's Kimi K3 launches with 2.8 trillion parameters, beating GPT-5.6 on key tasks and triggering semiconductor stock sell-offs amid US AI spending

Moonshot AI launched the Kimi K3 model, challenging U.S. competitors. Anthropic's valuation hitting $1.25T by December at 91% YES.

People walk past the Moonshot booth promoting its Kimi K3 AI model, during the World Artificial Intelligence Conference (WAIC) in Shanghai, China, July 17, 2026. [Photo/Agencies]

The Chinese startup unveiled Kimi K3 on Friday, a model that it says delivers performance that rivals top-tier offerings from OpenAI and Anthropic PBC at a fraction of the cost.…

US tech giants feel pressure as Chinese open-source models gain ground