Moonshot AI releases Kimi K3 open-source model with 2-3 trillion parameters

According to TechCrunch citing Financial Times, Chinese AI lab Moonshot AI released Kimi K3, an open-weight model with 2-3 trillion parameters, designed to match or exceed Anthropic's proprietary Opus 4.8 on benchmarks. The release represents the largest open-source model from China and comes as Moonshot raises fresh capital at a $31.5 billion valuation, up from $20 billion in May.

Update (2026-07-21): According to The Verge, China's Moonshot and Alibaba unveiled frontier models they claim rival OpenAI and Anthropic offerings at a fraction of the cost. The rapid releases signal accelerating competition as Chinese AI companies narrow Ameri...