Claude · GPT · China · Wall Street · TechCrunch AI
Chinese company Moonshot AI published a new version of its Kimi model this week
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◌ Single Source
Moonshot said that although Kimi K3 “still trails the most powerful proprietary models, Claude Fable 5 and GPT 5.6 Sol,” the new open source model “demonstrated frontier-level performance across TechCrunch’s evaluation suite, consistently outperforming other tested models.” Independent analyses from Arena.ai and Vals AI also…
Key facts
- The announcement, which coincided with a speech from Chinese president Xi Jinping at the World AI Conference in Shanghai, seems to have spooked Wall Street, with the Nasdaq dropping about 1%
- And former Uber CEO Travis Kalanick echoed complaints that Chinese are “distilling off” (i.e., being trained on the outputs of ) American AI models
- You need to direct every agency to issue soft law that creates FUD [fear, uncertainty, and doubt]. ‘A Federal Reserve Advisory Bulletin found that there may be backdoors in Chinese AI models
- Many of the resulting posts from tech industry figures will sound familiar to those who remember the debate after another Chinese company, DeepSeek, released its open source R1 model in January 2025
Summary
Chinese company Moonshot AI released a new version of its Kimi model this week, leading to a perhaps-inevitable wave of discourse about China and open source AI. The announcement, which coincided with a speech from Chinese president Xi Jinping at the World AI Conference in Shanghai, seems to have spooked Wall Street, with the Nasdaq dropping about 1% on Friday as investors sold off stocks in chip companies like Nvidia.