Everything you need to know before you reach the office this morning.
Moonshot AI released Kimi K3 on July 16—the largest open-source LLM matching top U.S. models for a fraction of the cost. U.S. companies now quietly adopt Chinese AI to rein in budgets, closing China's gap despite Washington's chip export controls.
U.S. stocks mixed as Iran ceasefire clashes with AI sector doubts; chip valuations slump on China supply friction. Meta/Microsoft earnings imminent amid AI-debt stress—capex budgets face revaluation pressure as AI investment ROI weakens.
“The AI ecosystem in China is probably much better than people thought."
U.S. Stocks Mixed on Oil Relief, AI Doubts