AI | Moonshot's Kimi K3 Triggers Semiconductor Selloff

Moonshot AI's release of Kimi K3 on Friday helped push semiconductor stocks sharply lower, as investors weighed whether the model may rely more on memory than compute. According to Bloomberg, the reaction echoed the drop after DeepSeek's R1 debut in early 2025, when Nvidia Corp. lost almost $600 billion of market value in a single day on fears AI would need less computing power than expected.