Tech stocks fell for a third straight session Friday as the semiconductor complex extended one of its worst weeks of the year, with investors fleeing the AI hardware trade after a Chinese startup unveiled the world’s largest open-weight model.
The selloff had already started in Asia overnight, where Moonshot AI showcased Kimi K3 — a 2.8-trillion-parameter model billed as the world’s largest open-weight AI system — at the World Artificial Intelligence Conference in Shanghai.
