Wall Street Investor: Kimi K3 Could Be a Turning Point for AI, Benefiting the Industry Chain Beyond the Model Giants

According to DataLook Beating monitoring, Atreides Management Managing Partner and CIO Gavin Baker stated that Kimi K3 could be a turning point for the AI industry. It is detrimental to OpenAI and Anthropic, but beneficial for almost all other companies.

His assessment is that if cutting-edge models are monopolized by two or three labs in the long term, these companies will take away most of the profits and expand to the chip, cloud computing, and software layers.

K3 increases competition in the model layer. After model profits are squeezed, more value will be left to power, chips, data centers, cloud services, and software companies.

However, K3 is currently not token-efficient enough. Artificial Analysis tests show that it costs about $0.94 per task, higher than GPT-5.6 Terra's $0.55, but slightly lower than GPT-5.6 Sol's $1.04.

Baker believes that a true industry inflection point would still require an equally powerful but more token-efficient open model. OpenAI and Anthropic may still rely on products, toolchains, and internal models to maintain their lead.