New Delhi, July 18 -- BEIJING - The market response arrived before the technical analysis could catch up. Moonshot AI, the Beijing company behind the Kimi assistant, published details of Kimi K3 on Thursday, describing it as the world's first open-weight AI model with more than 2.8 trillion parameters. Chip stocks fell on Nasdaq and the Tokyo Nikkei before most researchers had worked through the release documentation.

Kimi K3 is not a model designed to win on narrow benchmarks. According to Moonshot AI's official announcement, it is a general-purpose frontier system with native vision capabilities, a one-million-token context window, and an architecture the company calls LatentMoE. The design routes inference through 16 of 896 expert sub...