China's Kimi K3 AI launch adds pressure on AMD's AI hardware bets

China unveils the Moonshot Kimi K3 open‑AI model, touted as a cheaper, large-scale option that could shift AI workloads and chip demand abroad, adding competitive pressure to AMD’s CPUs/GPUs for AI while also raising questions about export controls and regional demand; investors will watch how China’s ecosystem shapes AMD’s revenue mix and the stock’s near‑term trajectory amid shifting AI infrastructure spending.