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Bitcoin falls alongside AI and semiconductor stocks after Kimi K3 debut
The selloff followed Moonshot AI's release of Kimi K3, an open-weight coding model slated for full public download on July 27.
CoinDesk reports that bitcoin and other major cryptocurrencies fell as AI and semiconductor stocks sold off after Beijing-based Moonshot AI released Kimi K3, an open-weight coding model that topped a frontend leaderboard and beat leading U.S. AI systems in a specific benchmark.
The article says Kimi K3 is a 2.8 trillion-parameter mixture-of-experts model with a one-million-token context window, activating 16 specialists out of 896 for each task. Moonshot also claims the architecture improves scaling efficiency by about 2.5 times versus its prior version.
According to the report, on Arena's Frontend Code leaderboard K3 scored 1,679 compared with 1,631 for Anthropic's Claude Fable 5 and 1,618 for OpenAI's GPT-5.6, placing first and ranking top in six of seven categories.
CoinDesk adds that bitcoin has been trading more like a leveraged bet on the AI capital cycle, with its price moving in tandem with semiconductor and AI infrastructure sentiment rather than crypto-specific, on-chain developments, and notes that Kimi K3's open-weight license is expected to draw attention because users will be able to download and run the model without paying anyone after its July 27 full release.
Latest closeBitcoin $63,123.03 ▼1.0%