Kimi K3 from China triggers AI valuation reset! Moonshot AI launches Kimi K3, a 2.8 trillion parameter open model with outstanding benchmark results, directly challenging the assumption that 'only well-funded U.S. companies can build cutting-edge AI,' sparking a global sell-off in AI-related assets. SK Hynix dropped about 8%, Taiwan's stock market fell 5.7%, and Japan's Nikkei index plunged nearly 6%. BTC's correlation with tech stocks resurfaces, weakening in tandem.