The release of Kimi K3 wiped out 3.2 trillion yuan on Wall Street! Silicon Valley marvels at the speed of China’s AI rise

Kuai Technology reported on August 1 that after Dark Side of the Moon released its flagship large model Kimi K3, it triggered a comprehensive sell-off in the US AI industry chain. According to statistics, the U.S. AI sector has evaporated a total of approximately US$470 billion (approximately RMB 3.2 trillion). 17 Wall Street investment banks lowered their target prices for AI chip companies overnight. JPMorgan Chase said in a report that for AI chip stocks, the release of Kimi K3 is undoubtedly adding insult to injury. Goldman Sachs partners also said that the era of computing power expansion may have come to an end. If China's low-cost open source model performs well enough, the rationality of the sky-high capital expenditures of American AI giants will no longer exist. Silicon Valley is also amazed at the speed of the rise of China's AI. University of California, Berkeley professor Ian Stoka said that the gap between China's open source models and the most advanced ones in the United States has shrunk from half a year to 2 to 3 months. Musk’s comment below was impressive. China’s open source model is causing the entire Silicon Valley to re-examine the landscape of AI competition. It should be pointed out that Kimi K3 topped the authoritative front-end programming list Frontend Code Arena with 1679 points, surpassing Anthropic Claude Fable 5’s 1631 points and OpenAI GPT-5.6 Sol’s 1618 points. This is the first time that an open source model has surpassed all overseas closed source models on the authoritative programming list. At present, the cumulative downloads of China's open source models have exceeded 10 billion times, ranking first in the world. For every 10 large model downloads in the world, 6 are models developed in China. On the global mainstream large model call list, the top six models are all from Chinese teams. In the past 12 months, domestic models have maintained the upper limit of the scale of global open source models in 9 months. It is worth mentioning that less than two weeks after the release of Kimi K3, Dark Side of the Moon completed Series F financing on July 29, with a financing amount of over US$3.5 billion and a post-investment valuation of US$35 billion.