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Frontier Intelligence released the open Kimi K3 model; CXMT (described as an “AI…

2026-07-27 · 13:59 UTC ·@cryptopunk7213 ·1 min read

Brief

China’s AI ecosystem surged in a single week (post dated 2026-07-27): Frontier Intelligence opened the Kimi K3 model; CXMT IPO’d and jumped ~500% to a $500B valuation amid reports it developed a component tied to ASML’s chipmaking tech; Kobeissi Letter records ~$720B in AI-related exports over the past 12 months, driven by rising Western demand.

Why it matters

Frontier Intelligence released the open Kimi K3 model; CXMT (described as an “AI memory maker”) IPO’d and surged ~500%, valuing the company at about $500 billion, and reports on 2026-07-27 claim CXMT developed a key component of ASML’s chipmaking technology needed for AI chips.

Key details

  • Kobeissi Letter reports China’s AI-related exports reached roughly $720 billion over the last 12 months: chip exports ≈ $290B (more than doubled in 3 years), computer/components ≈ $240B (highest since 2022), and power equipment ≈ $190B, with Western demand surging.
Source evidence

just to recap - china’s had an insane week in ai:

  1. kimi k3 open model at frontier intelligence

  2. cxmt (ai memory maker) IPO’d and up 500% valuing them at $500B (most valuable company in china)

  3. news broke this morning they’ve developed a key component of ASML’s tech that is required to make ai chips

probably just a coincidence but they’ve really gained momentum

The Kobeissi Letter (@KobeissiLetter)

AI demand is becoming a key driver of China's economy:

China's chip exports are up to a record ~$290 billion over the last 12 months.

This figure has more than doubled over the last 3 years.

At the same time, computer and component shipments are up to ~$240 billion, the highest since 2022.

Power equipment exports are up to a record ~$190 billion, with the growth accelerating over the last 2 years.

This brings China’s total AI-related exports up to ~$720 billion over the last 12 months, an all-time high.

Western demand for China-made AI hardware is surging.

— https://nitter.net/KobeissiLetter/status/2081611762231636013#m