Goldman Sachs Comments on Kimi K3: Chinese Open-Source Models Reach a Critical Inflection Point in Global Adoption, with Intense Competition in High-End Models

Goldman Sachs stated that Kimi K3 has emerged with 2.8 trillion parameters, raising its API pricing to $2.30 per million tokens—the highest price yet for a Chinese AI model—marking a shift among domestic AI firms from a 'price war' to a battle for 'pricing power.' However, on the flip side, Zhipu’s stock plunged 28% in a single day and MiniMax dropped 16%, revealing deep market concerns about the sustainability of competitive moats among AI model companies amid intensifying competition in the high-end programming segment.

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Kuaishou-W (01024) repurchased 1.1076 million shares on July 17 at a cost of approximately HK$48.6231 million.

Kuaishou-W (01024) announced that on July 17, 2026, it repurchased 1.1076 million shares at a cost of approximately HK$48.6231 million.

Zhitong FinanceJul 17 19:10

Express News | The Cyberspace Administration of China released the eighteenth batch of algorithmic filing information for deep synthesis services. Included in the list are Kuaishou's Ketu large model generative synthesis algorithm and Kunlun Tech's Tiangong large model

BreakingsJul 17 18:03

Kuaishou Technology Stock Slides 7.8% in Hong Kong

Dow JonesJul 17 16:30

Express News | Kuaishou Launches AI Future Creators Challenge

BreakingsJul 17 12:15

Hong Kong Market Midday Review | All three major indices declined, with the Hang Seng Tech Index down over 4%; AI application and memory stocks fell collectively, with Zhipu AI plunging nearly 22%, MiniMax dropping close to 14%, and CSOP Daily Leveraged 2

Tech and internet stocks declined, with Meituan-W falling 6.08% and Kuaishou-W dropping 5.80%; semiconductor stocks weakened, with Innoscience falling 10.17% and GigaDevice declining 8.67%; pharmaceutical stocks fell, with Insilico Intelligence down 12.12% and 3SBio dropping 10.61%;

Futu NewsJul 17 12:12