Kimi K3 shows open AI models have finally caught up with proprietary US-based rivals

Beijing-based startup Moonshot AI has unveiled Kimi K3, a 2.8-trillion-parameter Mixture-of-Experts model. Launched on 16 July, this system is described as the world’s largest open-weight AI model, effectively bridging the gap between open-weight and closed proprietary US-based rivals. This release follows reports that Moonshot AI was seeking a $30bn valuation. The development places the firm alongside American frontier labs after two years of pursuit to match their advanced technological capabilities and scale.