Moonshot's Kimi K3 tops coding leaderboard at 1679, triggering global tech rout

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[1] Kimi K3再掀"DeepSeek时刻"？高盛警告："算力扩张时代"或已走到尽头 (https://wallstreetcn.com/articles/3777230 ...)[2] Chinese startup launches world's largest open AI model ‘Kimi K3', nears Fable and GPT-5.6 level performance (https://www.msn.com/en-in/money/news/chinese- ...)[3] Moonshot’s Kimi K3 AI model disrupts global markets, hits AI stock valuations (https://cryptobriefing.com/moonshots-kimi-k3- ...)[4] China's open-weight Kimi model stuns AI world with frontier-level results (https://www.msn.com/en-us/technology/artifici ...)[5] Moonshot AI’s Kimi K3 Tops Frontend Coding Leaderboard (https://www.techbooky.com/moonshot-ai-kimi-k3 ...)

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Jul 17 2026, 14:30

Gold edges higher as death cross threatens key support level

Gold posted marginal gains in early Friday trading, with spot prices hovering near $2,350 an ounce as a bearish death cross pattern threatens to accelerate selling pressure on the precious metal. "The death cross formation, where the 50-day moving average crosses below the 200-day moving average, is a lagging indicator but one that tends to reinforce existing bearish momentum once confirmed," said Omar Tariq, commodities analyst at Edgen. "Gold's ability to hold above $2,350 in the coming sessions will determine whether this is a consolidation phase or the start of a deeper correction." The technical setup follows a period of sustained weakness for gold, which has declined from recent highs as the US dollar strengthened and real yields climbed. A confirmed death cross could trigger additional selling from systematic and trend-following strategies, potentially accelerating the move lower. The last time gold printed a death cross was in early 2025, which preceded a 6 percent decline over the following six weeks. The $2,350 level represents near-term support, with a break below that opening the path toward $2,280, the 200-day moving average. On the upside, resistance sits at $2,420, the 50-day moving average that is now acting as overhead supply. Trading volumes remain below the 20-day average, suggesting conviction is lacking on both sides of the trade. The broader macro backdrop remains mixed for gold. US real yields have risen 15 basis points this month, reducing the opportunity cost of holding non-yielding bullion. Meanwhile, central bank buying continues to provide a floor, with the People's Bank of China adding to its reserves for a ninth consecutive month in June, according to official data. The net effect leaves gold caught between monetary headwinds and structural demand support. The next catalyst for gold comes with the Federal Reserve's July 29-30 policy meeting, where rate expectations will dictate the near-term trajectory for the dollar and real yields. A dovish outcome would remove a key headwind for gold, while a hawkish hold could accelerate the breakdown below $2,350. This article is for informational purposes only and does not constitute investment advice.

Jul 17 2026, 14:22

Dow sinks 486 points as AI selloff deepens, chip stocks extend losses

**Wall Street's AI-fueled rally is unraveling as the Dow Jones Industrial Average opened sharply lower Friday, extending a deepening rout in semiconductor stocks.** The Dow Jones Industrial Average fell about 486 points, or 0.9%, in early trading Friday as investors continued to pull back from semiconductor stocks, extending a broader reassessment of the artificial intelligence-driven rally. The S&P 500 lost 1.1%, while the Nasdaq Composite dropped 1.7%. The selloff reflects a valuation and momentum unwind in the AI-chip trade, with investors questioning whether the pace of AI-related capital spending can be sustained after months of strong gains, according to market analysis. The Philadelphia Semiconductor Index has fallen more than 19% from its late-June record high and was on track for its worst weekly performance since March 2025. Nvidia shares fell about 3.4%, while Applied Materials and Lam Research each dropped more than 5%. The iShares Semiconductor ETF and the VanEck Semiconductor ETF both declined more than 3%. The weakness came despite strong quarterly results from Taiwan Semiconductor Manufacturing Co. and upbeat guidance from ASML, suggesting investors remain focused on broader concerns surrounding AI infrastructure spending rather than company-specific earnings. The selloff accelerated losses from Thursday, when the S&P 500 fell 0.5% to 7,533.77, the Dow dipped 0.2% to 52,552.97, and the Nasdaq composite lost 1.5% to 25,881.95. Memory chipmakers were among the hardest hit Thursday, with US-listed shares of SK Hynix falling about 14% and the Roundhill Memory ETF declining almost 9%. Technology stocks faced additional pressure after Netflix forecast third-quarter revenue and earnings below Wall Street expectations. Netflix shares plunged more than 11% despite reporting second-quarter results that were broadly in line with analyst estimates. Intuitive Surgical fell 11% after maintaining its da Vinci procedure growth forecast and warning that insurance-plan changes may be delaying patient care. **Oil rises as Middle East tensions escalate** Oil prices moved higher as the US military completed its sixth consecutive evening of strikes against Iran, targeting military infrastructure and logistics assets. US West Texas Intermediate crude traded above $81 a barrel, while Brent crude rose above $86 a barrel. The renewed conflict has further weakened the fragile truce reached last month and continued to disrupt energy flows through the Strait of Hormuz, a critical shipping route that normally carries about one-fifth of global oil supplies. The CBOE Volatility Index climbed to its highest level in more than a week as investors adopted a more cautious stance. The US 10-year Treasury yield was around 4.57%, while the US dollar index ticked 0.3% higher to 100.78. Gold futures fell 1.8% to $3,980 an ounce. Although major US banks delivered solid earnings earlier in the week and recent inflation data came in softer than expected, those positives failed to offset mounting concerns surrounding technology valuations. The selloff was not limited to US markets, with semiconductor shares also weakening across Asia-Pacific and European markets on Friday. Investors now face a critical question: whether the AI-driven rally that powered markets to record highs earlier this year can resume, or if the current selloff marks a more sustained rotation out of growth stocks. This article is for informational purposes only and does not constitute investment advice.

Jul 17 2026, 14:20

Warren Buffett claims credit for Berkshire's $10B AI strategy

**Warren Buffett went on CNBC on July 17 and said he — not successor Greg Abel — was responsible for Berkshire Hathaway's push into artificial intelligence, a revelation that reframes the conglomerate's technology strategy.** Warren Buffett took personal credit for Berkshire Hathaway's push into artificial intelligence during a CNBC interview on July 17, saying he directed the conglomerate's $10 billion private placement into Alphabet to support its AI infrastructure build-out. "I've been reading about AI for years, and I told Greg this is something we need to be part of," Buffett, Berkshire's chairman and former chief executive officer, said. "The $10 billion Alphabet deal was my idea." The admission reframes Berkshire's technology strategy, which many investors attributed to Chief Executive Greg Abel after he took over on Jan. 1. Berkshire now holds a $31.1 billion stake in Alphabet alongside a $58 billion Apple position, giving the conglomerate exposure to both AI compute demand and consumer device distribution. The company's cash pile stood at roughly $397 billion as of the most recent quarter. The disclosure carries implications for Berkshire's $1.1 trillion market valuation. If Buffett — who built his reputation avoiding technology bets — is now personally steering into AI, it could accelerate the conglomerate's shift away from its traditional insurance and railroad roots. Investors will watch for whether Berkshire increases its Alphabet stake or pursues direct AI acquisitions. ## Buffett's AI Pivot Rewrites the Succession Narrative For years, the conventional wisdom held that Abel would drive Berkshire's technology expansion while Buffett focused on the businesses he knew best: insurance, railroads, and consumer goods. The CNBC interview upends that assumption. Buffett said he had been studying AI developments for several years and concluded that the technology would reshape the economy in ways that demanded Berkshire's participation. The Alphabet private placement, completed earlier this year, gave Berkshire a direct line into Google's AI infrastructure spending. Alphabet has committed more than $50 billion in capital expenditures for 2026, with the majority directed at data centers and AI model training, according to company filings. Berkshire's $10 billion participation came alongside other institutional investors. ## What Berkshire's AI Bet Means for Investors Berkshire's Class A shares, trading near $739,750, have gained 43 percent over the past three years and 77 percent over five years — roughly matching the S&P 500's 13 percent annualized return over the past decade. The AI push could provide a new growth vector for a company that has long struggled to deploy its massive cash pile at scale. The question for shareholders is whether Buffett's personal involvement signals a more aggressive technology strategy than the market has priced in. Berkshire's $397 billion cash hoard gives it firepower for additional AI-related investments, whether through public market stakes, private placements, or outright acquisitions. The company's existing portfolio already includes a $58 billion Apple stake and the $31.1 billion Alphabet position, creating a technology concentration that would have been unthinkable a decade ago. This article is for informational purposes only and does not constitute investment advice.