China's Kimi K3 Rivals GPT-5 & Claude

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Today's AI news is dominated by a wave of frontier model launches and mega funding rounds — from China's largest-ever open-source model to a $1.5B infrastructure raise and a fresh crop of well-funded agentic startups. Here's what's moving the industry today.

Today's Top Stories

Moonshot AI Unveils Kimi K3, the World's Largest Open-Source Model

Beijing-based Moonshot AI released Kimi K3, a 2.8-trillion-parameter model it says is now the largest open-weight AI system in the world, with benchmarks showing performance closing in on Anthropic and OpenAI's top proprietary models. Full weights are set to be released July 27, and the model is already live on Kimi.com and via API at a fraction of the cost of Western frontier models.

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Mira Murati's Thinking Machines Lab Ships Its First Model, Inkling

Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, released Inkling — a 975-billion-parameter open-weight multimodal model that natively handles text, images, audio, and video. It's the company's first public model release since raising $2B at a $12B valuation in 2025, and it's available now via Hugging Face and API partners including Fireworks and Databricks.

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Fireworks AI Raises $1.5B to Bet Against the "Rent-a-Model" Era

AI infrastructure startup Fireworks closed a $1.5B Series D at a $17.5B valuation, led by Atreides Management, Index Ventures, and TCV, with Nvidia joining again. The company says revenue has grown 5x in a year to a $1B+ annualized run rate, now serving 40 trillion tokens a day — mostly through specialized, custom models rather than off-the-shelf frontier APIs.

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Sequoia Backs Sable's AI Sales-Demo Agent With $45M

Sable raised $45M from Sequoia Capital and 8VC to build Aidan, an AI "employee" that runs live product demos, answers customer questions in real time, and switches languages mid-conversation. The round underscores investor appetite for agentic AI, a market estimated to grow from roughly $9B today to $57B by 2031.

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India Mints Its Second AI Unicorn in a Month

Bengaluru-based vibe-coding startup Emergent raised $300M in a Series C at a $1.5B valuation, led by Creaegis with participation from Khosla Ventures, SoftBank Vision Fund 2, Lightspeed, and Y Combinator. It's the second Indian AI company to cross unicorn status in the past month, signaling growing m htmlomentum for India's application-layer AI ecosystem.

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