Chinese AI shakes up global markets
Chinese AI developers including Moonshot AI and DeepSeek are releasing cheaper, more advanced models that rival US alternatives, rattling global financial markets. Moonshot AI's Kimi K3 triggered Wall Street volatility and accusations from Washington, while South Korea's Kospi fell 38 percent in July amid concerns about AI investment returns. Australian businesses are increasingly adopting Chinese open-source models to reduce costs.
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Summary by OZbrief Editorial · ABC News – Top stories · Source
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Published 31 Jul 2026, 18:43 UTC · Updated 31 Jul 2026, 18:50 UTC
Summary by OZbrief Editorial. Original report: ABC News – Top stories. Editorial policy · Corrections
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