China's open-weight models are starting to threaten the business model behind OpenAI and Anthropic.

Via Wall Street Journal

Kimi K3 and Qwen 3.8 Max are cheap， capable and customizable. Kimi was competitive with leading US systems on some benchmarks， while American companies are increasingly adopting Chinese models to cut AI costs.

That puts pressure on the economics used to justify billions in frontier-model investment and trillions in future infrastructure spending.

OpenAI and Anthropic executives are warning about cybersecurity and national-security risks. Critics point out that both companies are preparing for possible public listings and would benefit from restrictions on cheaper competitors.