July 17 Update

AXIOS – “China just erased America's AI lead”

Kimi K3 was released on Thursday.  It is an AI model developed by a Chinese company Moonshot AI. 

Kimi immediately vaulted into the top tier of global AI, beating Anthropic's Fable 5 and OpenAI's GPT-5.6 Sol in front-end coding tests by AI evaluator Arena.

Kimi finished ahead of Anthropic's Opus 4.8 — the company's flagship model until Fable 5 arrived in June — while costing 40% less.

Nasdaq Composite is down 2.5% in past 5 trading days.  The Nasdaq 100 is down 3.6% in the past 5 trading days. 

Nasdaq Composite is down 5.8% from the all-time highs in early June. 

U.S. stock market is a large, leverage bet on AI and technology.  It is very overpriced market and Kimi K3 could a disrupting event that changes this situation.