China's Moonshot unveils world's largest open AI model, closing in on US rivals

In China on 17 July 2026, the AI company Moonshot AI unveiled Kimi K3, described as the world's largest open AI model. Moonshot claims the model can rival OpenAI and Anthropic, and it was described as a low-cost model that narrows the gap with top US systems.

The release came as the World Artificial Intelligence Conference (WAIC) spotlighted Chinese AI capabilities. Bloomberg asked why Moonshot AI is roiling markets, and the New York Times said the model threatens America's lead.