DeepSeek
The Terms on Which Liang Wenfeng Took the Money
DeepSeek's first outside round reportedly asked commercial investors to accept a five-year lock-up and no voting rights, and China's national AI industry investment fund was the one reported exception. People close to Liang Wenfeng reportedly described the lock-up as a way to keep out capital seeking a quick exit. A reported STAR Market listing would force the structure into public documents.
Kimi K3: Moonshot's largest open-model claim, graded on its own exam
Moonshot calls Kimi K3 the largest open-weight model ever and a top-tier contender. Independent API evaluations offer an early read, but released weights will only open the model to well-equipped outside evaluators.
Kimi K3 Isn't Free. It Just Looks That Way.
Moonshot's Kimi K3 is set to join DeepSeek's models and Alibaba's Qwen as a free download climbing the leaderboards. But between Anthropic and OpenAI's distillation findings, NIST's security testing, and Beijing's own moves to lock down its "open" frontier, the case for treating these weights as neutral technology is getting harder to make.