Moonshot AI ships Kimi K3, a 2.8-trillion-parameter open-weight model

Moonshot AI released Kimi K3, a 2.8-trillion-parameter open-weight model priced at $3/$15 per million input/output tokens that beats Claude Opus 4.8 and GPT-5.5 on several benchmarks while trailing the newest flagships. Open weights at that price put frontier-adjacent capability in reach of anyone who can host it, and the market read it as a threat — Zhipu fell 27.7% and MiniMax 16.5% in Hong Kong trading.

Source: bloomberg.com ↗