WS #12295
China's Kimi K3 AI model beats Claude Fable and GPT 5.6 on key benchmarks, causing a selloff in semiconductor stocks; Mizuho says selloff in CDNS and SNPS is overdone. Apple briefly overtakes Nvidia as world's most valuable company amid chip selloff, but later gives back gains; Nvidia down 13% from May record. Meta is betting up to $145B this year on AI compute infrastructure, signaling aggressive capex for AI dominance.
China AI Breakthrough Triggers Semiconductor Selloff
China's Kimi K3 AI model beats Claude Fable and GPT 5.6 on key benchmarks, causing a selloff in semiconductor stocks; Mizuho says selloff in CDNS and SNPS is overdone.
Apple briefly overtakes Nvidia as world's most valuable company amid chip selloff, but later gives back gains; Nvidia down 13% from May record.
Meta is betting up to $145B this year on AI compute infrastructure, signaling aggressive capex for AI dominance.