Chip Shares Slide Into Bear Market After Moonshot AI Releases Kimi K3

Global semiconductor stocks sold off sharply following Moonshot AI's release of its Kimi K3 model, pushing the Philadelphia Semiconductor Index into bear-market territory. Coin Bureau said in a post on X that the index has fallen more than 20% from its June peak. The update also cited a drop of over 6% in Taiwan's benchmark equity index and a 4% decline in Japanese shares. According to the post, chipmakers have erased roughly $3.3 trillion in market value since June 22. Moonshot AI described Kimi K3 as the next generation of its open-source AI model, arriving as competition intensifies across the AI development landscape. Markets reacted quickly, with traders linking the announcement to renewed selling pressure in semiconductor names, though other drivers are also being weighed. A chart shared alongside the post showed a steady uptrend followed by a breakout that carried prices close to the 14,000 level. The sharpest move came in a large green candle, with the next red candle marking profit-taking after the surge. Despite heightened volatility, prices held above prior breakout levels. Semiconductor stocks remain closely tied to expectations for AI infrastructure spending, and investors are likely to keep tracking chip shares alongside developments from Moonshot AI and other AI players over coming sessions. The original article was published as "Chip Stocks Enter Bear Market After Moonshot Ai Unveils Kimi K3 Model" on Crypto Breaking News.