Moonshot AI launches Kimi K3 model, outperforming US rivals
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Moonshot AI released Kimi K3, an open-source model that the company claims outperforms leading US models from Anthropic and OpenAI. The Dow fell 0.3% (155 points) as chip stocks deepened their selloff.
The New Model
Moonshot AI launched Kimi K3, an open-source large language model, on July 16. The company said it outperforms Anthropic's Claude 3.5 Sonnet and OpenAI's GPT-4o on several benchmarks. CEO Daniel Newman of Futurum Research called it "this quarter’s DeepSeek moment," referencing a previous Chinese AI model that disrupted markets.
Market Reaction
The Dow Jones Industrial Average fell 155 points, or 0.3%, amid a broader tech selloff. Chip stocks were hit hardest, with Nvidia dropping 2.1% and AMD losing 1.8%. The selloff mirrors a similar downturn in January when DeepSeek's R1 model triggered a $500 billion rout in semiconductor shares.
Model Parameter Count
Moonshot AI's Kimi K3 has 2.8 trillion parameters, making it China's largest AI model. The model was unveiled at the World AI Conference.
World's largest open-source model
Moonshot AI's Kimi K3 is described as the world's largest open-source AI model. The company claims it outperforms leading US systems from Anthropic and OpenAI in some capabilities.
What's Next
Analysts will watch for further benchmark comparisons between Kimi K3 and US models in the coming weeks. It remains unclear whether the selloff will deepen or stabilize as investors reassess AI competition.
3 sources
Moonshot AI launches Kimi K3 model, outperforming US rivals
