This is evidenced by data from TradingView.
At the time of writing, only two of the global top 10 companies were showing slight gains — Apple and Saudi Aramco (up 0.11% and 0.15%, respectively), while the remaining eight were down 1.5% or more; notably, Nvidia’s 3.4% drop caused the company to lose its position as the market capitalization leader for the first time in a long while.
The Asian semiconductor market fell by 6%, and the Nasdaq 100 index dropped by 2.7%. The Moonshot Kimi K3 model demonstrated test results comparable to those of the best products from U.S. companies, Bloomberg reports, noting that programming tools are one of the most profitable areas for developers of cutting-edge models, accounting for a significant portion of the revenue of Anthropic and OpenAI, which are preparing to go public with valuations nearing one trillion.
“If Kimi can offer a lower price with comparable performance, it could undermine the business models of competitors in both the U.S. and China,” the journalists concluded.
