# AI Bubble Update: Kimi K3 Sends China into Chaos

Page: https://stenobird.com/podcast/limitless-an-ai-podcast-7326914/ai-bubble-update-kimi-k3-sends-china-into-chaos
Text version: https://stenobird.com/podcast/limitless-an-ai-podcast-7326914/ai-bubble-update-kimi-k3-sends-china-into-chaos.md
Podcast: [Limitless: An AI Podcast](https://stenobird.com/podcast/limitless-an-ai-podcast-7326914)
Published: 2026-07-21T12:49:02+00:00
Episode link: https://share.transistor.fm/s/98cf9a35
Audio file: https://media.transistor.fm/98cf9a35/99e3cac5.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/limitless-an-ai-podcast-7326914/episodes/ai-bubble-update-kimi-k3-sends-china-into-chaos
Duration seconds: 1539

## Resource

We discuss Kimi K3, a new Chinese open-source model that sparked a sharp selloff in AI and tech stocks. The real question: does it signals a real shift in the AI race between the U.S. and China? And who will the biggest winners be: model labs or the compute and infrastructure providers? ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Kimi K3 Shakes Markets 0:49 Open Source Disruption 2:54 China’s AI Message 5:22 Demand Outstrips GPUs 8:59 Open Source Backlash 13:58 The Bubble Debate 17:38 Infrastructure Wins Long Term 22:36 Breakthroughs Still Loom 24:48 Outro and Updates ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/limitless-an-ai-podcast-7326914/episodes/ai-bubble-update-kimi-k3-sends-china-into-chaos/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/limitless-an-ai-podcast-7326914/ai-bubble-update-kimi-k3-sends-china-into-chaos.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.