China's Moonshot AI used the World Artificial Intelligence Conference in Shanghai to unveil Kimi K3, a 2.8-trillion-parameter open-weight model the Beijing-based startup claims can rival the most advanced systems from OpenAI and Anthropic. The announcement landed as a signal of how quickly Chinese developers are closing the gap with US frontier labs, and reports pointed to jitters in the American technology sector following the reveal, with some coverage noting share-price pressure among industry names.
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