Moonshot AI pauses Kimi K3 subscriptions after demand surge

Moonshot AI temporarily paused new subscriptions for Kimi K3, a 2.8-trillion-parameter open-weight model billed as the largest ever, after demand pushed the company close to capacity. The move helped trigger a global tech selloff, reviving comparisons to the DeepSeek shock, as investors fear free Chinese models could undercut hyperscaler AI spending.