Semiconductor stocks fell over 20% after Moonshot AI launched the Kimi K3 model, featuring 2.8 trillion parameters and a 1 million-token context window. Nvidia CEO Jensen Huang defended Chinese AI technology despite the market turmoil.
Speaking at the China International Supply Chain Expo, Huang praised Chinese open-source AI models as "world class," directly challenging US efforts led by the Trump administration to ban these models. He highlighted contributions from DeepSeek, Alibaba, Tencent, MiniMax, and Baidu to the global AI landscape.
Huang emphasized that open-weight AI models promote safety and collaboration more effectively than proprietary US systems. However, he supports restricting Nvidia's advanced chip exports like Blackwell and Rubin architectures to China, drawing a line between hardware and software controls.
The Kimi K3 release has caused Nvidia to temporarily lose its spot as the world's most valuable company. This decline has wider implications for AI-related crypto tokens and decentralized compute networks such as Render, Akash, and io.net, which tie their value to GPU scarcity and Nvidia stock performance.
This article is informational and not financial advice.
