Moonshot's Kimi K3 Claim Sends Retail Traders Reeling as Strikes Reach Kuwait

China's Moonshot AI says its new Kimi K3 model rivals OpenAI and Anthropic, and Bloomberg reports the claim alone was enough to crush retail traders crowded into leveraged AI funds overnight, the same DeepSeek shock pattern from last year replaying with a bigger portfolio behind it. Apple briefly passed Nvidia as the world's most valuable company on the resulting chip stock rout, then followed with legal letters to OpenAI staff over trade secrets, a fight that raises questions about talent poaching inside frontier labs. Meanwhile the war entered its seventh straight night of US strikes, now reaching infrastructure and bridges near a key Iranian port and hitting Kuwait directly, per Reuters. Oil sits at a one month high as Gulf shipping traffic falls to its lowest point in over a month, per the New York Times. This column called on Friday that a fourth week of flat war risk pricing turns the closure claim into a standing joke among underwriters; actual rate data will confirm or break that call this week. On the defensive side, CISA ordered emergency patching of actively exploited Fortinet flaws and Fairlife halted US production after a cyber incident. Independent benchmark testing of Moonshot's claim is due by Monday.