China's Kimi K3 Dethrones US AI Giants

Moonshot AI has announced Kimi K3, a 2.8 trillion parameter open-weights model set for public release on July 27. It outperforms OpenAI and Anthropic models in some benchmarks, particularly front-end development, and is significantly cheaper than Western rivals. The release is drawing comparisons to DeepSeek's R1 moment in early 2025, which wiped roughly $1 trillion from US tech stocks. Arena CEO Anastasios Angelopoulos called it potentially the single biggest AI release of the year, suggesting China has now surpassed the US in open-source model capability.