Wall Street Misread Kimi K3

The disruption is real – but it may favor infrastructure suppliers over premium model providers

Wall Street Misread Kimi K3 VIEW IN BROWSER  |  FOLLOW LUKE ON 𝕏 Wall Street saw Kimi K3 and reached for the DeepSeek playbook: Sell chip stocks first, sort out the details later. Moonshot AI’s new model added fuel to a broader technology selloff that pushed the Philadelphia Semiconductor Index (SOX) down nearly 10% for the week, its worst performance in more than a year. Investors worried that another capable Chinese model had exposed the hyperscalers’ infrastructure spending as wasteful. Then Moonshot ran into a wall. Demand for Kimi K3 surged so quickly that the company temporarily stopped accepting new subscriptions. User traffic had pushed its GPU capacity close to the limit, forcing Moonshot to protect service for existing customers while it added more computing resources. The selloff targeted chipmakers and infrastructure suppliers even as Moonshot proved it needed more of what they sell. K3 may pressure model pricing, but every token it generates still needs chips, memory, networking, data centers, and power. Wall Street found a real disruption. It just sold the wrong layer. Why Kimi K3 Is Not Another DeepSeek K3 deserves the attention. Moonshot built it for long coding projects, visual tasks, and complex agent workflows. Early benchmark results place it near the frontier, especially in coding, and the company plans to release the full model files and technical report on July 27. The more important detail for investors is what it takes to run. Moonshot recommends clusters of at least 64 high-end AI chips. Like many advanced models, K3 only activates a portion of its parameters per request – a clever efficiency move that trims the compute bill somewhat. It doesn’t make the hardware requirements go away. That is where the DeepSeek comparison starts to break down. The original DeepSeek panic centered on efficiency. Investors thought R1 had shown that a Chinese lab could approach frontier performance with far less infrastructure than the industry assumed. K3 poses a different threat. It gives developers another capable model they can eventually host, modify, and build around. But it still needs serious hardware – and Moonshot ran into GPU-capacity limits almost immediately after launch. Releasing the model files gives developers more control. It does not make chips, memory, networking, cooling, or power optional. K3 may weaken the pricing power of model providers. Its adoption strengthens the case for the infrastructure underneath them. Recommended Link Sell These 10 Stocks ASAP Fortune magazine named it the “Most Innovative Company in America” six years in a row. It was announcing larger and larger revenue with each passing quarter. And 11 of the 13 analysts covering it called it a “Buy.” But in Louis Navellier’s system, this firm was an obvious “SELL.” That company was Enron. Today… Louis has discovered TEN publicly traded, widely held, and seemingly “too big to fail” Wall Street darlings that could fall dramatically in the weeks ahead. They’ve all received an F rating in his system. Click here for more details… How Kimi K3 Changes AI Model Economics For the past few years, frontier labs could charge premium prices because buyers had few comparable options. K3 adds another credible choice. Companies can use Moonshot’s API or, once the model files are released, host and customize K3 themselves. That gives buyers more leverage, particularly in routine, high-volume work such as coding assistance, document processing, basic research, customer support, and internal agents. That said, capability benchmarks aren’t the only thing enterprises buy. U.S. labs still hold important advantages in security, governance, enterprise support, and regulated industries. A bank will not replace a proven production system because of one benchmark chart. But the middle of the model market is getting more crowded, and vendors may have to compete harder for each dollar of revenue. Open models also change who pays the compute bill. A company using Moonshot’s API pays Moonshot to run the model. A company hosting K3 itself pays a cloud provider or builds its own environment. Either route requires chips, memory, networking, storage, cooling, and power. K3’s launch gave us a clean demonstration. Moonshot opened access, developers arrived, usage climbed, and GPU capacity became the immediate constraint. That is the Jevons effect in plain sight: easier access creates more use. A startup that could not afford a premium frontier model can try K3. A large company can customize it. Developers can build specialized agents around it. Each new deployment adds another stream of AI traffic. Model providers may earn less on each task. Infrastructure providers can earn more because there are more tasks to run. The Bottom Line: Wall Street Sold the Wrong Layer Kimi K3 is a serious achievement. It shows that Chinese labs are closing the capability gap and gives enterprises another credible model choice. Moonshot plans to release K3’s full model files and technical report on July 27. Independent testing should tell us whether outside evaluators can reproduce its strongest results, what the model costs to run at scale, and how it performs beyond launch benchmarks – which will determine how much pressure K3 can actually put on premium model pricing. But its first infrastructure signal has already arrived. Moonshot’s GPU shortage showed what happens when a capable model finds an audience: usage grows, available capacity gets consumed, and more capacity has to be built. Wall Street conflated those two layers in the recent selloff. That is the opportunity – and why we are using the weakness to add selectively to the companies supplying the infrastructure beneath the model economy. The price of intelligence can fall while the compute bill keeps rising. Moonshot just proved it without meaning to. The model got cheaper. The GPU shortage got worse. That dynamic points to a specific set of assets – and most investors are still looking at the wrong layer to find them. The physical layer of this trade is where the most interesting capital has been moving. Not into chips or hyperscalers. Into the hard assets that make the compute bill payable in the first place: energy, nuclear capacity, fabrication. The substrate that compounds regardless of which model wins the benchmark wars. Here’s the curated portfolio built around that thesis. Sincerely, Luke Lango Editor, Hypergrowth Investing P.S. Questions or comments about this issue? Drop us a line at langofeedback@investorplace.com.

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Could you make an extra $50,000 with this unusual trading technique?

One reader already has… and it took him just 12 months ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­

Editor’s Note: Larry Benedict has spent more than 40 years as a professional trader. He went 20 years without a losing year and made over $274 million for his clients. Now he’s revealing a ticker he calls one of the best-kept secrets in the market. Click here to see the details. Dear Reader, President Trump played a huge part in one of Larry Benedict’s readers making $50,000 in a single year.* Larry is a hedge fund legend who went 20 years without a single losing year. And in 2025, as Trump made move after move that rattled the markets, Larry was ready for all of it. Remember Liberation Day? Trump’s sweeping package of tariffs tanked the market, with $2 trillion in value wiped out in a single day. But Larry and his members were ready. While most people panicked, Larry recommended a series of trades on a single ticker. Those who followed along had the chance to profit 60%, 18%, and 29%… all in the same year. That’s what Larry does — trade one ticker over and over. It’s how he made $274 million total for his hedge fund clients. It’s the technique behind his member’s $50,000 year… And that’s why we are writing to you now… Because Trump is about to make his biggest move yet. Larry calls it “The American Energy Endgame,” and he predicts it could start moving the markets as soon as August 15. And there is one ticker at the very heart of this opportunity that you need to know about. Larry is urging his members to take a position in it today. Click here to discover what it is, for free. Best, Lauren Wingfield Managing Editor, The Opportunistic Trader P.S. Remember, there’s so much in the market we cannot control. But positioning yourself ahead of big moves is something you can control. It’s how Rande made $50,000 last year*, and now you have that chance too. Click here for the details. Today’s editorial pick for you Want Reliable Income? Analysts Point to These 3 Energy Stocks Posted On Jul 20, 2026 by Ian Cooper If you’re looking for ways to protect your portfolio from volatility, consider dividend stocks. Many energy stocks stand out for generating significant cash flow and often returning a portion of that cash to shareholders through attractive dividends. Table of Contents ConocoPhillips  Energy Transfer  Chevron  Why These 3 Energy Stocks Deserve a Look These are companies that return part of their profits to shareholders through regular payments. Companies with strong cash flow are often better able to maintain and increase their dividends over time. In fact, investors may want to consider these three. ConocoPhillips  Let’s start with ConocoPhillips (NYSE: COP), one of the largest oil and gas companies in the world. The company pays a quarterly dividend of 84 cents per share, or $3.36 per year. This gives the stock a dividend yield of about 3%. Before ConocoPhillips reports its second-quarter results on August 6, Wells Fargo reiterated a buy rating on the stock and set a price target of $183. The firm believes ConocoPhillips is in a strong position because of its efficient operations and ability to handle changes in oil and gas prices. The analysts expect the company to meet its production goal of about 2.2 million barrels of oil equivalent per day. Although lower natural gas prices could hurt parts of the business, the analyst believes stronger oil prices will help balance out those challenges. The firm also expects for ConocoPhillips to continue generating strong cash flow, which could support future dividend increases.  Energy Transfer  There’s also Energy Transfer (NYSE: ET), a company that owns and operates a large network of energy pipelines and infrastructure. Energy Transfer operates about 140,000 miles of pipelines and pays investors a quarterly distribution of 33.75 cents per unit. That equals $1.35 per year and gives the stock a dividend yield of approximately 6.8%. Jefferies analysts reiterated a buy rating on Energy Transfer and gave the stock a price target of $23. The analysts also believe Energy Transfer could benefit from continued demand for natural gas, natural gas liquids, and oil.  Another key reason why analysts like Energy Transfer is its strong income potential. The company generates steady cash flow from its pipeline business, which is less dependent on daily energy price changes compared with oil producers. Chevron  There’s also Chevron (NYSE: CVX), which pays a quarterly dividend of $1.78 per share, or $7.12 annually. The stock currently offers a dividend yield of about 3.9%. Jefferies analysts reiterated a buy rating on Chevron and set a price target of $216, noting that Chevron’s business is improving after facing several challenges earlier in the year. These included production issues in Kazakhstan, weather-related disruptions, and uncertainty caused by conflicts in the Middle East. The analyst expects Chevron’s oil and gas production to recover and believes the company’s refining business will also perform well. Higher refining profits and strong operations could help Chevron generate significant cash flow. The firm added that Chevron could produce about $18.2 billion in operating cash flow during the quarter. Strong cash generation gives the company flexibility to maintain its dividend and continue investing in future growth. Why These 3 Energy Stocks Deserve a Look Dividend stocks can be appealing to investors who want regular income and companies with strong fundamentals, especially during periods of high volatility and uncertainty.   ConocoPhillips, Energy Transfer, and Chevron all offer attractive dividend payments and operate in the energy sector, which continues to play an important role in the global economy. These three companies have built large-scale operations and continue to focus on returning capital to shareholders while investing in future growth.  For income-focused investors, the appeal of these energy stocks goes beyond their current dividend yields. Their ability to generate consistent cash flow and maintain shareholder returns could make them worth considering as part of a diversified portfolio. This is a PAID ADVERTISEMENT provided to the subscribers of StockEarnings Free Newsletter. Although we have sent you this email, StockEarnings does not specifically endorse this product nor is it responsible for the content of this advertisement. Furthermore, we make no guarantee or warranty about what is advertised above. Your privacy is very important to us, if you wish to be excluded from future notices, do not reply to this message. Instead, please click Unsubscribe. StockEarnings, Inc 33 SE 4th St, Suite 100, Boca Raton, FL 33432 USA W: 877.6.STOCKS StockEarnings.com

Why Price Action Beats the Headlines By Larry Benedict, editor, Trading With Larry Benedict Markets rarely reward certainty. In fact, it’s usually the opposite. By the time investors are convinced about what’s going to happen next, the market has often already priced it in. Last week was a perfect example. Consumer inflation came in softer than expected. Producer inflation also surprised to the downside. Expectations for a Federal Reserve rate hike later this month fell sharply as traders reassessed the outlook around interest rates. Yet despite the good news, stocks struggled to gain traction… then sold off sharply on Friday. That put the Nasdaq down around its June 9 lows. In simple terms, the market is no longer reacting only to the headlines. And as a trader, you need to be able to pick up on the subtle shift. Recommended Links Is This the Stock Market’s Best-Kept Secret? One Millionaire Trader Thinks So. It’s a ticker you will not find on any top-100 list. Hardly anyone searches for it, and most investors have never even heard of it. But when one specific market begins to move, this little-known ticker quickly becomes one of Wall Street’s favorite ways to profit. Larry Benedict believes a White House plan could soon set that market in motion, creating wave after wave of opportunities. Today, he’s revealing the overlooked ticker at the center of it all, completely free. Click here to get the name now. Circle October on Your Calendar. It Could Be the Day Wall Street Changes Forever. $115 trillion is about to move into one small corner of the market. Jeff Brown has spent months tracing exactly where it's headed, and he's narrowed it to five overlooked assets he believes sit right in its path. Including one the Trump family itself already holds a six-figure position in. He calls what's coming the “Trump 90-Day Melt Up.” And if you missed Bitcoin at $240, it could be a rare second chance to be early to something historic. Jeff reveals where it all begins, completely free. Click here now, while you're still ahead of it. Price Is Always King A lot of traders spend their time trying to predict economic data or guess what the Federal Reserve will do next. But I’m much more interested in how the market responds once that information becomes public. That’s where the real clues lie. When good news no longer sparks aggressive buying, that tells you the market is already fully priced in and struggling to meet increasingly unrealistic expectations. Similarly, when bad news fails to generate sustained selling, it’s often a sign that bearish sentiment is already fully baked in. That’s why the adage “price is king” is true. What investors are actually doing with their money reveals much more than predictions or forecasts. Friday’s action tells us that investors are becoming far more discerning. They’re no longer willing to blindly buy any dip. Renewed fighting in the Middle East, rising oil prices, and a cautious earnings outlook from Netflix tipped the market into “risk-off” mode, despite encouraging inflation data. And now the market’s focus will shift to the rally’s next test: the real meat of earnings season. Tune in to Trading With Larry Live Each week, Market Wizard Larry Benedict goes live to share his thoughts on what’s impacting the markets. Whether you’re a novice or expert trader, you won’t want to miss Larry’s insights and analysis. Even better, it’s free to watch. Visit us on YouTube to catch the latest! What Earnings Season Means for the Rally Over the next couple of weeks, some of the market’s most influential companies will report, including Alphabet, Tesla, Apple, Microsoft, Meta Platforms, and Amazon. Collectively, these stocks account for a large share of both the Nasdaq and S&P 500. Their results – and more importantly, the market’s reaction to those results – could determine the market’s next major move. With valuations so stretched, investors are no longer rewarding companies merely for meeting expectations. They’ll want to see evidence that earnings growth remains strong and that the hundreds of billions in AI spending is beginning to generate meaningful returns. As the reaction to Netflix showed, delivering solid numbers isn’t enough. Investors want confidence that future growth will justify stocks’ valuations. Over the coming weeks, we need to focus on the market’s reaction to the headlines rather than the actual headlines themselves. The headlines tell you what happened. But the price action shows you how investors interpreted that information. To me, the message from the market is becoming increasingly clear. After a long period of momentum-based action, fundamental factors like valuations, earnings, geopolitical risks, and interest rates are beginning to matter again. Successful trading is about recognizing when the market’s profile begins to change. Right now, we’re seeing the early stages of a shift, and the traders who track the changes will be in a much better position to profit. Regards, Larry Benedict Editor, Trading With Larry Benedict P.S. Anyone who bought the SpaceX IPO is feeling the burn. It’s the latest example of why it’s dangerous to buy stocks on their IPO day. The good news is, I have a better strategy. But this is your last chance to catch my 5-Minute IPO Profits briefing before it goes offline. In it, I share a way to bring in hundreds or thousands of dollars on IPO day without buying the IPO itself. Watch the 5-Minute IPO Profits briefing here now. Get Instant Trade Alerts on Mobile! Click the icon below from your mobile device to download The Opportunistic Trader app today for one-tap access to trade alerts, issues, and model portfolios for all of Larry’s services. Available in the app store on Android and iPhone. The Opportunistic Trader 1125 N Charles St, Baltimore, MD 21201 www.opportunistictrader.com To ensure our emails continue reaching your inbox, please add our email address to your address book. This editorial email containing advertisements was sent to reunisoft.cryptonews@blogger.com because you subscribed to this service. To stop receiving these emails, click here. The Opportunistic Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-208-6550, Mon–Fri, 9am–5pm ET, or email us here. © 2026 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. Privacy Policy | Terms of Use

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Investors are pricing this automaker for extinction...

Not rendering correctly? View this e-mail as a web page here. The Factory Town That's Running Out of Money By Joel Litman, chief investment officer, Altimetry In Ingolstadt, Germany, auto manufacturer Audi employs about 40,000 people and anchors the local economy... Things have gotten tough in the past few years, though. Consumer weakness, punishing auto tariffs, and slumping demand for SUVs and electric vehicles have taken a toll on Audi's business. Audi global sales dropped around 12% in 2024 and 3% in 2025. And U.S. sales fared even worse, falling 14% in 2024, 16% in 2025, and 17% in the first half of 2026. For decades, Audi's manufacturing model was strong. It supported high-paying jobs, local tax revenue, and public investment. That helped preserve Ingolstadt's infrastructure and the skilled workforce the company needed. But that loop is now running in reverse. As Audi and its parent company Volkswagen (VOW3.DE) have struggled, Ingolstadt's business-tax revenue has fallen by half. This has had real-world consequences for the town... Regional German authorities have rejected Ingolstadt's budget, halted new investments, and left major public projects frozen. One deteriorating school became so unsafe that students had to be removed. When an automaker's slowdown reaches city hall, investors start treating the damage as permanent. And now Volkswagen is being priced for extinction. This is despite Volkswagen remaining profitable and projecting €3 billion to €6 billion of net cash flow this year. As we'll discuss today, investors are far too pessimistic about Volkswagen's stock price. All the company has to do to beat expectations is avoid a collapse. And if conditions merely stabilize instead of deteriorating further, the upside could be substantial. Volkswagen was once a symbol of German manufacturing strength. Today, its stock tells a very different story... Shares have fallen roughly 65% over the past five years. At around €73 today, Volkswagen trades as though years of declining profits are still ahead. Recommended Links: No. 1 Stock for the U.S. Power-Grid Crisis This company's new tech is already live in remote fields in West Texas. It can generate round-the-clock power WITHOUT waiting years for the public grid to catch up... and it's now backed by Elon Musk, Meta Platforms, Microsoft, and Alphabet. Before the average person hears about this... click here to see the No. 1 power-grid stock to own right now. See by Tomorrow: 'The Great Rotation of 2026 Is Here' In the wake of last week's tech bloodbath, a Wall Street legend and former Goldman Sachs trader says your success during this confusing, turbulent market all hinges on the actions you take now. Until tomorrow, see his full prediction for what's coming next – including which stocks to buy and sell... plus, the breakthrough discovery he used to see it all coming. Click here by tomorrow for this new shocking market prediction. However, we can see that investors have taken the pessimism too far through our Embedded Expectations Analysis ("EEA") framework. The EEA starts by looking at a company's current stock price. From there, we can calculate what the market expects from the company's future cash flows. We then compare that with our own cash-flow projections. In short, it tells us how well a company has to perform in the future to be worth what the market is paying for it today. Volkswagen's Uniform return on assets ("ROA") has been 6% or higher for each of the past five years. That said, investors currently expect its Uniform ROA to plummet to 1% by 2030. Take a look... A 1% Unform ROA would be a dramatic break from the company's history. See, Volkswagen has survived major crises before... During the peak of the Great Recession in 2009, the company's Uniform ROA stayed above 2%. And it recovered to 7% by the next year. Similarly, when Volkswagen was dealing with a major emissions scandal in 2015, its return never dropped below 6%. Also, the company's portfolio remains broad, with both low-end brands (like Audi and Skoda) and high-end brands (like Bentley and Lamborghini). That diversification has helped Volkswagen weather recessions and industry downturns before, and there's little reason to think this time will be different. Simply put, even if the company isn't able to reclaim its past highs, the current valuation is just too negative. The bar for a recovery has collapsed... Volkswagen is clearly facing some problems today. Its sales are slowing, and exporting cars has gotten more expensive thanks to tariffs. Investors have responded by pricing Volkswagen as though those pressures will destroy nearly all of its economic profitability. However, that outlook seems far too extreme... Even if the struggles continue, Volkswagen can still outperform the expectations embedded in its shares. We believe that stable, mid-single-digit Uniform ROA through the rest of this decade is possible. That would already represent a far better result than the market's near-zero forecast. Volkswagen remains an automotive titan. All it has to do is survive to beat investor expectations. If the company simply proves it's more resilient than the market expects, the stock could rebound. Regards, Joel Litman July 21, 2026 Tell us what you think of this content We value our subscribers' feedback. To help us improve your experience, we'd like to ask you a couple brief questions. Click here to rate this e-mail A publication from You have received this e-mail as part of your subscription to Altimetry Daily Authority. If you no longer want to receive e-mails from Altimetry Daily Authority, click here. Published by Altimetry. You’re receiving this e-mail at reunisoft.cryptonews@blogger.com. For questions about your account or to speak with customer service, call (800) 701-9346 (U.S.), 9 a.m. – 5 p.m. Eastern time or e-mail info@altimetry.com. Please note: The law prohibits us from giving personalized financial advice. © 2026 Altimetry. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Altimetry. 110 Cambridge Street, Cambridge, MA 02141. altimetry.com. Any brokers mentioned constitute a partial list of available brokers and is for your information only. Altimetry does not recommend or endorse any brokers, dealers, or investment advisors. Altimetry forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Altimetry (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we’ve learned as financial journalists. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility.