Odaily reported that after the release of Kimi K3, the U.S. semiconductor sector declined due to market concerns over a “DeepSeek Moment 2.0.” However, UBS, Nomura, BofA Securities, and Citigroup all believe that Kimi K3 has not diminished the demand for AI computing power; instead, it may further drive the expansion of AI infrastructure.

Institutions noted that Kimi K3 features 2.8 trillion parameters, a 100-million-token context window, and supports always-on inference, native multimodal capabilities, and a MoE architecture. Its massive parameter scale and long-context capabilities will increase KV cache occupancy, thereby boosting demand for HBM, server DDR5, enterprise SSDs, cloud infrastructure, and high-speed interconnects.

Citigroup described this trend as “another Jevons paradox,” where improvements in model efficiency and cost reductions may lead to more application scenarios and higher token consumption. UBS stated that open-source models typically rely more on memory and storage due to longer context windows. Citigroup believes that large-scale deployment of Kimi K3 may require supernodes composed of more than 64 GPUs. Nomura argued that the global competition in large language models will continue to drive investment from frontier labs and cloud platforms, benefiting the AI infrastructure supply chain.

However, BofA Securities cautioned that if model efficiency improvements consistently outpace workload growth and actual usage fails to expand correspondingly, AI infrastructure construction could still face downside risks.

Odaily July 21 news, according to SoSoValue data, the cryptocurrency market sectors have broadly rebounded, with the DeFi sector performing prominently, rising 2.28% in 24 hours. Among them, Hyperliquid (HYPE) rose 3.55%, DeXe (DEXE), Uniswap (UNI), and Lido DAO (LDO) rose 4.96%, 5.32%, and 11.80% respectively. Meanwhile, Bitcoin (BTC) rose 0.80%, breaking above $65,000; Ethereum (ETH) rose 1.88%, breaking above $1,900.

In other sectors, the RWA sector rose 2.02% in 24 hours, with Maple Finance (SYRUP) up 6.13% within the sector; the PayFi sector rose 1.00%, with Telcoin (TEL) up 2.62%; the Layer1 sector rose 0.62%, with NEAR Protocol (NEAR) up 4.40%; the CeFi sector rose 0.22%, with NEXO (NEXO) up 1.85%; the Meme sector rose 0.17%, with Bonk (BONK) up 15.22%; the Layer2 sector rose 0.04%, with Arbitrum (ARB) up 2.14%.

Only the SocialFi sector saw a slight decline of 0.96%, with Gram (GRAM) down 0.76%, although Chiliz (CHZ) rose 3.06%.

Crypto sector indices reflecting historical sector performance show that the ssiDeFi, ssiRWA, and ssiDePIN indices rose 2.38%, 2.14%, and 1.59% respectively.

Odaily reports that according to MSX.COM data, the US stock AI chip sector is rising. AMD and Intel are up over 5%, Broadcom, Google, and Broadcom are up nearly 3%, TSMC is up 2.6%, and Nvidia is up 2.3%.

Additionally, US-listed computing power leasing companies Nebius and CoreWeave both rose at the market open, each gaining over 7%.

According to data from MSX.COM, the Philadelphia Semiconductor Index opened up 2% to 11,959.04 points. Nvidia's stock rose 1.31%, TSMC's stock rose 2.61%, Broadcom's stock rose 2.07%, Micron Technology's stock rose 3.84%, Advanced Micro Devices' stock rose 3.63%, and ASML's stock rose 2.45%.

According to data from MSX.COM, the US stock chip and storage sectors experienced a moderate rebound. Nvidia shares rose 1.5%, TSMC shares rose 1.85%, Broadcom shares rose 2.25%, SK Hynix shares rose 4.15%, Micron Technology shares rose 3.99%, Advanced Micro Devices shares rose 3.54%, ASML shares rose 2.19%, Intel shares rose 2.63%, Lam Research shares rose 2.76%, ARM shares rose 2.27%, and SanDisk shares rose 3.78%.