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The Economic Times
The Economic Times

Moonshot is creating new winners and losers in the AI trade

Moonshot Tony Sycamore Anthropic PBC IG OpenAI United States China Semiconductor

Moonshot AI’s surprise release of a new artificial intelligence model has sent a jolt through markets, forcing investors to reassess some of the biggest assumptions behind the global tech rally.

The Chinese startup unveiled Kimi K3 on Friday, a model that it says delivers performance that rivals top-tier offerings from OpenAI and Anthropic PBC at a fraction of the cost. As investors drew comparisons with last year’s “DeepSeek moment,” IG market analyst Tony Sycamore said $314 billion has been wiped from the company’s valuation estimates for the two unlisted US firms.

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