Q+A: Is China's latest AI model another DeepSeek moment?
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What is the main topic discussed in this episode?
Welcome to Fear and Greed Q&A, where we ask and answer questions about business, investing, economics, politics, and more. I'm Sean Aylmer. A new AI challenger has emerged from China and is threatening to upend the whole AI landscape for users and investors. Moonshot AI's latest model, Kimi K3, is being described by some as the next deep-seek moment After the release of DeepSeek's AI model caused a major sell-off in tech stocks about a year and a half ago, it's another reminder that the global AI race is moving incredibly quickly and that the competitive landscape can change almost overnight. So what's it mean for business and investors?
Why is Moonshot AI's Kimi K3 being called the next 'DeepSeek moment'?
Will Liang is CEO of Amplify AI Group. Will, welcome to Fear and Greed Q&A.
Thanks for having me, Sean.
Now, about six months ago, you and I did a presentation together, and we certainly weren't talking about Kimi K3. We were talking about large language models and things like that. The whole world seems to have turned on its head since we were last speaking at that function, but particularly in the last week or so. Why is everyone talking about Kimi K3?
Yeah, it's quite an important moment.
What early evidence suggests Kimi K3 rivals OpenAI and Anthropic on capability and cost?
If you recall, January last year, when DeepSeq came out, it was a quite big shock to the market. But Kimi K3 has the potential to be a bigger shock and more consequential. And that's because DeepSeq was mainly a cost shock, right? So it came up with a model that was a lot cheaper than OpenAI and also Anthropic. But for Kimi K3, it's not only it is cheaper, but also it is, from a capability perspective, it is on par. And in some cases, some benchmarks, it is actually better than Fable and also GPT-SOL.
What do we know about it so far? Because it's not actually being released to the general public for another week or so.
What do we currently know about Kimi K3's availability and released assets?
What do we know about it so far?
It is released to the general public, so you can actually access it. You can go to Moonshot's website and access Kimi K3. You can go to the webpage. You can also download the app as well. What's not released just yet is the weight behind it. So you cannot just download it as any other open weights model just yet. And that's quite important, right? I think from an investment perspective for investors, I do think we should reserve that final judgment before that wait release next week, because that's when we can start doing some independent verification, independent test, so that we can really be sure whether the model is as good as it claimed to be.
Okay, so Kimi K3, you said in some ways it outperforms some of the anthropic OpenAI models. In what kind of sense does it outperform?
Yeah, so there's about five to six benchmarks that it ranked higher than Fable and so. In particular, a couple of them quite interesting. One is the front-end design bench.
In what benchmarks does Kimi K3 outperform other models like Fable and GPT‑SOL?
So what that is, is essentially the capability to design nice-looking websites, nice-looking posters, those kind of coding capability. And obviously a lot of suspicion of why this is the case, a lot of guess why this is the case. My personal take is, compared to DeepSeq and also another recent model from z.ai called GLM 5.2, those are very good models, but when it was released, those models were text-only model. So it can read text, can output text. Whereas Kimi K3 is out of the box, what they call multi-model, right? So it can understand text, it can understand images, it can understand audio, those kind of capabilities. And that's quite interesting and quite important, especially when it comes to design, right?
So design, so it needs to be able to understand image to have a better design. So that's one example. And then the other example, Where it is ahead is there's another benchmark. It's called a spreadsheet benchmark. So really test models capability to build models in Excel, build models in spreadsheet. And we know that's quite important for financial services professionals. And that is also a benchmark that Gimi K3 was at the top. What about security concerns?
How does Kimi K3's multimodal design (text, image, audio) improve design and spreadsheet tasks?
Now, I don't know where, how real are security concerns on models that come out of China or the US for that matter?
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:05–0:46
2
Why is Moonshot AI's Kimi K3 being called the next 'DeepSeek moment'?
0:46–1:16
3
What early evidence suggests Kimi K3 rivals OpenAI and Anthropic on capability and cost?
1:16–2:04
4
What do we currently know about Kimi K3's availability and released assets?
2:04–3:23
5
In what benchmarks does Kimi K3 outperform other models like Fable and GPT‑SOL?
3:23–4:50
6
How does Kimi K3's multimodal design (text, image, audio) improve design and spreadsheet tasks?
4:50–6:00
7
What security and deployment concerns arise when using Chinese or open‑weight AI models?
6:00–7:47
8
How does China's AI strategy compare to the US across robotics, video, coding and knowledge work?
7:47–10:48
Speakers
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