WS #12306
China's Moonshot AI released Kimi K3, a 2.8-trillion-parameter open-source model, sparking a broad tech/AI selloff as investors question AI capex ROI, reminiscent of DeepSeek shock. Apple surpassed Nvidia as world's most valuable company at $4.88 trillion as investors shift from AI model makers to companies monetizing AI via services, with Apple's lower capex seen as an advantage. China signals possible return of US trade privileges for Hong Kong as executive order on Hong Kong normalization expires, a modest de-escalation in trade tensions.
China Moonshot AI Kimi K3 release triggers tech selloff
China's Moonshot AI released Kimi K3, a 2.8-trillion-parameter open-source model, sparking a broad tech/AI selloff as investors question AI capex ROI, reminiscent of DeepSeek shock.
Apple surpassed Nvidia as world's most valuable company at $4.88 trillion as investors shift from AI model makers to companies monetizing AI via services, with Apple's lower capex seen as an advantage.
China signals possible return of US trade privileges for Hong Kong as executive order on Hong Kong normalization expires, a modest de-escalation in trade tensions.