https://mp.weixin.qq.com/s/V4xhEIy8xDXSMDPrPkmUAQ
Generally looks like a Sol/Fable tier model, better across the board than Opus 4.8.
(Edit) English blogpost is up now: https://www.kimi.com/blog/kimi-k3
Forget about their pricing but the companies that do have means to host such models fully on-prem are also the same companies that are paying tens of millions of $ in inference cost every month, and are by extension the biggest customers of OAI and Anthropic
After using it for a few hours, I believe these benchmarks.
I don't want to cheer against my country, but we've given up on open source. The way Anthropic and OpenAI treat their customers as adversaries is embarrassing.
I will cheer for China, for Kimi, and for z.ai until we have something in the same category.
[1] I'd even be fine with open weights, fair source, or anything that let us have direct access to the weights. Even if that came with stipulations. Don't hide the weights from us.
The argument on our side wins - if America or the West don't do open source, China will. And that means -- with certainty -- that China wins the market.
Every politician and VC should hear that loud and clear.
Given the pricing, it suggests that this model is much more efficient/competent than previous-gen OS/distilled models.
This is such a common omission: the Chinese models are open, you can host them yourself on your premises. So privacy and independence.
while I am skeptical that this is happening atm, there are probably many industries where the risk does not seem worthwhile
Maybe I just don't have any imagination.
Correction: Lots of organizations are refusing to use Anthropic Fable because they have forced opt-in data collection as part of their privacy policy, even for Enterprise.
Not everyone's going to care about Anthropic requiring data collection (a similar debate plays out with regards to "pay or consent" on website tracking), just as not everyone cares about China with regards to security/IP issues (if they did, a lot more would be banned besides occasionally-Huawei).
With Oracle being junk before this, more will follow.
This would drive down Anthropic's margins, but drive up demand for datacenter and GPU capacity. It's not that people would be using fewer GPUs, they'd just shift demand from high priced token vendors to direct GPU rental, which benefits datacenter companies while hurting Anthropic.
Now they are betting with Project Stargate but it also seems to be crumbling down.
But don't forget that they literally hold the biggest databases, both in commercial and open source, that is, Oracle Database and MySQL. Plus Oracle Java they literally controls at least 30% of the internet's software infrastructure.
And also with a good team of attorneies enforcing the licenses, they can squeeze so much money at the cost of morality.
Also recently they downgraded the always free OCI ARM instance from 4C24G to 2C12G without telling anyone.
They're drowning in debt and risk is increasing. If these US models don't keep holding up their valuation will tank further and some will recall the loans or ask for different terms.
The DeepSeek incident has already shown it, this is a reminder.
https://www.youtube.com/watch?v=LSlV206xPqM
These real world examples show it's one tier away.
(I mantain a client with llama.cpp and 101 models across 14 companies by http)
Having said that, the safety system on Fable makes it an extremely unattractive model. It feels that half of the time you're paying double for Opus level performance.
https://nitter.net/synthwavedd/status/2077537805715005724#m
(As an aside, I don't know how it was professional of Arena to unmask an unreleased cloaked model on their platform. Also practically, upstream could have been A/B testing multiple variants under same endpoint, casting validity of such pre-announcement tests into question)
That said, Kimi is competing against GLM in my mind, and GLM 5.2 is less than 1/3 the price.
At this point, I always look at things like Artificial Analysis' total cost to run their tests. It'll take into consideration the cost of tokens, how many tokens it burns through, and how effectively it uses caching (and the price of that caching).
If a model "costs the same" but its reasoning ends up going through a ton more tokens, it doesn't really cost the same in real world usage.
Having used GLM 5.2 extensively and K3 for a few hours now, these models are nowhere near each other. 5.2 is a great model, and I use it for a lot of things, but it's noticeably below Opus 4.8 or GPT-5.5 in real-world usage.
K3 is in the same ballpark as Fable or Sol.
If you think a page is too vague, use a famous known writer's work as a reference.
I doubt you are going to get a response from an anthropic employee, but I think it is safe to assume they have swapped to a new tokenizer because it improves the performance of their models.
Less efficient in token usage but per the blogs; it enables the model to perform better.
Neuralwatt was cheap (but slow) but they cranked their price.
Ollama monthly sub is speedy but doesn't offer a lot of quota.
Right now unless you're paying by the token, there's no cost based reason to use the open weight models for daily coding work because the monthly coding plans from Anthropic and OpenAI are a better deal.
Matches my experience, I got their Pro subscription and while I enjoyed the model itself a lot and while their ZCode harness is also pretty nice, it gave me less tokens for similar amounts of money that Anthropic would give me on a subscription: https://blog.kronis.dev/blog/z-ai-s-glm-5-2-is-a-great-model...
I'm yet to try out Kimi, but if their subscription were to be anywhere comparable to Anthropic/OpenAI, I might just switch over because competition is good.
DeepSeek V4 Pro is really affordable per-token but regularly kept making mistakes in the tasks I gave it. I mean I could at least afford the tokens to go over the work a 2nd, 3rd, 4th and 5th time and gradually fix most of the issues, but it was a very frustrating mode of work.
Not very good for programming though.
> Right now unless you're paying by the token, there's no cost based reason to use the open weight models for daily coding work because the monthly coding plans from Anthropic and OpenAI are a better deal.
Maybe. I am on a $20/month Anthropic subscription this month but I also use Claude Code frequently with Deepseek v4 flash and pro, GML5.2. For simple work Deepseek v4 flash is so nice because it is fast.
What you say is true however, the US hyper-scalers are still (desperately?) subsidizing subscriptions for market share to boost there valuations.
I really want to see AI inference costs approach zero, and I think I just need to wait a few years to see that.
I can get by working on code strictly in GLM. I can't with DeepSeek. It makes some pretty careless mistakes and isn't a very deep thinker.
It is very useful as a general purpose model for non-coding purposes though.
Kim, however, has exposed the whole reasoning trace, or enough of it to matter. I'd almost forgotten how nice it is to see this. I've been able to see all of the weird twist and turns it takes and it is joyful. But also, far, far more informative and means I can debug ideas far more thoroughly. Also, at a first glance it seems to have gotten quite far on a niche hobby horse of mine that no LLM has been able to crack. I'll be testing this more for sure.
Say of that what you will, but it's not because they want to wrest control from users.
It's because they don't want Chinese companies to do exactly what Moonshot (Kimi creators) and others have done.
Recently, they backported the blocks to Opus 4.8, so I’m reluctantly stuck on sonnet.
I probably could successfully apply to get special approval to use claude code unencumbered, but I don’t think it is ethical to support tooling that’s built so a central authority gets to decide what intellectual endeavors and knowledge work are permissible, and what are not.
I have high hopes on this topic, given token efficiency seemed to be the primary (only?) goal of the K2.7 Code release.
Excited to see the signals that come out of the big eval/benchmark sites.
Is there proof of what you’re saying or is it just a guess?
Of course maybe there is some fine print I haven’t read, and obviously I get the point that it may not be trustworthy.
edit: whoops I just checked and the “business”/“teams” plans just agree not to use your data for training
Zero data retention is also "trust me dude".
There is no viable way of checking they are actually doing that.
That's assuming they don't put carve-out clauses in, like Anthropic did with Fable, which means data retention is back on the cards, no exceptions.
Also don't forget a zero data retention clause is still subject to the good old "law, or court or administrative order" contract clauses. :)
To get properly close to real zero-retention in a hosted model, you would have to use one of the verifiably private AI that runs in enclaves, e.g. Tinfoil (US) or Privatemode (Germany)[2]. Yes, still not the same as running on your own hardware, but a million lightyears ahead of "zero data retention" "trust me dude" clauses.
I just wanted to know if that other person had proof or not, and I guess they didn’t. I would still rather have some semblance of an agreement than not have one at all — if you’re coding on a consumer plan you should just 100% assume anything you write with it will end up in the training set
A) use a provider that pinky-swears not to store your data. they obviously don't give a fuck about 'distillation attacks', so they have little motivation to voluntarily monitor and store your queries. reasonably high likelihood of privacy.
B) rent the hardware and run the model yourself. very high likelihood of privacy.
C) buy the hardware and run the model yourself. absolute certainty of privacy.
EDIT: Just switched my Kimi-CLI session to K3 and resumed my ongoing /goal... Will be interesting to see if I notice a difference.
It'd need to be exceptionally smart and error free to ever make sense.
One has mostly been reliable, stayed peaceful towards us and is primarily concerned with their internal matters and the countries right next to it. They have long-term strategy and understanding of win-win situations.
The other one keeps threatening to invade/steal Greenland. Keeps waging an economic war against the entire bloc. Positions their propagandists right in our middle and does the best to influence our elections. Exports fascism and finances antidemocratic forces. Supports the genocide in that certain country. And still have their soldiers in our country, against the wishes of a majority of the population. Oh and they don't honor any treaties if they feel like it.
Easy choice.
Does that make china an angel? Hell no, they are still committed to enslaving the Uyghur people, keep threatening neighbors and are mostly han supremacists. Human rights are seen as merely a suggestion by them.
But at the time being, one is clearly more reliable than the other. Long-term, I'd like to avoid both the US and China.
This is textbook international relations realism. Rising powers pretend they aren't powerful so countries don't balance against them.
Their actions are entirely predictable.
Then suddenly they will begin to do imperialism, like all great powers, and suddenly they will pretend to be stronger than they are.
What alternative would you propose? Currently, there's no alternative I know of, either you rely on the US or on China or both.
Me and many others are doing our best building that alternative and promoting local solutions in all areas, but it takes time. And until then, I'd like to use the one that isn't threatening to steal our territory, thank you very much.
Why?
And I'm still not rooting _for_ them, I'm rooting for choosing their services above american ones for the time being. That's quite a different thing, as should be obvious. Respond to things I actually said and not things you think I might possibly think.
A very inconvenient truth for the China hawks.
Given how China behaves it should be evident that the only reason they don't apply military force is because they are not in position to. Not abusing military strength is not exactly being the paragon of virtue when your opposition could probably glass the world thrice before the day is over.
>Positions their propagandists right in our middle and does the best to influence our elections.
>Exports fascism and finances antidemocratic forces.
>Supports the genocide in that certain country.
>Oh and they don't honor any treaties if they feel like it.
I don't know how anyone can really mention any of these when trying to paint a bad picture of anyone as compared to China. It's just an obscene exercise in ignorance. I just can't make sense of discourse like this except as a result of propaganda.
You are not mentioning the greenland situation - why? That's the really big one and the one that made the US much closer to "enemy" than "friend". After all, friends don't threaten to annex your territory.
Regarding propagandists and financing of antidemocratic forces: this refers to a current issue. US is deliberately financing spreading of its ideology in the EU, as they confirmed themselves. [0]
With the genocide, that discussion I'm going to stay clear of, as nobody will be convinced of the other position anyway, too heated. Shouldn't have mentioned it in the first place, as this always leads to flamewars. mb.
Regarding honoring of treaties: let's start with the budapest memorandum - I think that was the first really big one. Then, the 1967 Refugee Protocol which forbids third-country deportations. Then, the UN Framework Convention On Climate Change. Violation of the UN charter, withholding of promised funds. The Convention Against TOrture.
Then all the broken/ignored/overturned trade treaties, all the promises made and not kept - how would anything rely on their word at all anymore?
I could go on for multiple pages. Why do those not count? Why do they have to be "propaganda"?
It is unbelievably difficult being reliant on the US in any way right now. And that's what I'm talking about. Not, which is the "better" country. Reliability and ... well, utility to its partners is the basis of it all. Which right now - compared to china - is rapidly sinking. So where is that ignorance you are speaking of?
[0]: https://web.archive.org/web/20260716141817/https://www.thegu...
What?
> Since 2014, the Chinese government has been accused of subjecting Uyghurs in Xinjiang to widespread persecution, including arbitrary arrest and detention, forced sterilization, and forced labor. This is denied by China.
But thinking China is better?
https://www.pewresearch.org/global/2026/07/15/people-in-many...
Bring on the Chinese token-dumping onslaught.
USA = Flawed democracy
China = Authoritarian
I don't really know how well they do this index, but probably better than a random HN comment.
Kimi also offers generous subscriptions. Subs aren’t going anywhere. Think of subs like running an insurance business. There might be some users you lose money on (ones who max out their weekly quota without fail), but they’re managed such that the average subscription turns a healthy profit. There’s never been subsidies in model serving, inference is just cheaper in terms of ops TCO than people assume, and API margins are very high.
So... convergence?
> but they’re managed such that the average subscription turns a healthy profit.
It didn't work like that, or at least that's not how it played out. People max-out their subs all the time which is why strict and multiple limits were implemented by all providers. Also, I subscribe to z.ai and recently they dropped the quota significantly that now their sub offers less than Claude and OpenAI. It's still x5-6 what it would cost on API costs though.
> inference is just cheaper in terms of ops TCO than people assume, and API margins are very high.
API margins (at least american ones) are probably healthy. But I don't think that inference is that cheap. It would cost 300-500k to just run GLM 5.2. There are lots of other factors too: reliability (can you keep the GPUs running all time), electricity cost, sys. admin costs, location costs, etc.. I wouldn't be surprised if the API margins are quite close to operational costs.