China's Kimi K3 AI Model Rivals US

Moonshot AI's Kimi K3 is a large language model trained with 2.8 trillion parameters and released with open weights, challenging proprietary systems from OpenAI and Anthropic.

The model achieved top scores on multiple reasoning and coding benchmarks, raising new concerns in Washington about the effectiveness of chip export controls.

Its launch contributed to a sharp decline in AI chip stocks and fueled debate over whether open-weight models could undercut U.S. commercial advantages.