China's new AI model halts new subscriptions as demand swamps capacity

China's Kimi K3 AI model, developed by Moonshot AI, suspended new subscriptions due to overwhelming demand after its launch. The 2.8 trillion parameter model, now the world’s largest open-source AI, has drawn global attention and pressured U.S. tech stocks. Competing Chinese AI models like DeepSeek V4 and Alibaba’s Qwen3.8 Max also highlight China’s growing influence in the AI field.