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There has been a lot of online discussion about KIMI3 over the recent weekend. Huge leading U.S. companies worth several hundred billion dollars are being pulled down from the “monopoly narrative” by a Chinese company using an open-source model—this is not something Americans can accept.
All AI narratives are built on monopoly, and this is also the consensus of Western capital. Once expectations are broken, everything upstream and downstream will continue to collapse. It feels like tomorrow we can take a quick bite and keep shorting Hynix.