ion

[Director Michael Kratsios @mkratsios47]

We have information that Moonshot AI distilled Anthropic’s Fable for the development of its K3 model.

To do this they developed a sophisticated internal platform to conduct large scale distillation against U.S. models, allowing them to quickly switch between multiple methods of access to avoid detection. Moonshot AI has also acquired GB300-equipped servers and has accessed GB300s in Thailand, likely to train its AI models.

The United States strongly supports the free and fair development of AI, including a thriving competitive ecosystem that spans frontier models, specialized systems, open-source frameworks, and open-weight models. Legitimate AI distillation used to create smaller, more efficient models plays a vital role in this open innovation ecosystem. However, large-scale, covert industrial distillation aimed at stealing proprietary U.S. technology and undermining American research is unacceptable.

[Kimi.ai @Kimi_Moonshot]

Kimi K3 has received far more love than we expected, and our GPUs are feeling it.

Over the past 48 hours, demand has pushed close to the limits of our current capacity. To protect the experience of existing subscribers, we're temporarily pausing new subscriptions and prioritizing compute for current members. Existing subscribed users are not affected.

We're adding capacity as fast as we can and will reopen new subscription spots in batches.

Going forward, we'll also split membership into two more focused plans: Kimi Membership for Kimi Web, App, and Work; and Kimi Code Membership for coding workflows. This will help us match compute more precisely and keep the experience stable.

Thank you for your patience and understanding!

[Citrini @citrini]

Since CPI is either going to be a clearing event or a thanos snap event, I figured it might be a decent time to be helpful.

If you’re relatively new to investing, then you’re bound to learn about what happens when your portfolio goes down.

Now, this is coming from someone who’s portfolio is up a paltry 20% YTD and hasn’t been gunning it on risk recently. Although also someone who’s been trading and investing their own money for the better part of a decade and has managed to not go bust (except for one, very painful time early on).

If you’re constructing a portfolio it’s important to realize it is its own position rather than a collection of positions. A stock is not just a company but the sum of its valuation, shareholder base, its sensitivity to liquidity, crowding, financing/rates and its catalyst calendar. High beta stocks are often five different trades in one ticker.

You should always have a working idea of your “tilts”. Does your portfolio go up/down more if tech rallies, if certain countries outperform, if a specific thematic is validated etc etc.

In general, you should not have a portfolio of 20 different stocks that all act the same. You might think you won’t, but getting the value of your book cut in half will make you do stupid things. (As an aside, this is also why even though buying the dip is generally a good strategy, progressively buying the dip early into a drawdown can make you mess up at the exact lows.)

High beta stocks come in all shapes and colors but in general they are selling the distant future. In good markets, the time out to that future is cheap. In bad markets, you start paying rent. That rent tends to appear as a lower multiple even while estimates stay the same.

A lot of times people will tell you the only thing that matters in a drawdown is “is the thesis intact?”. That’s one aspect, the other two are “how have expectations changed?” and “did you size like an idiot?”.

Don’t average down just to improve your cost basis, the market doesn’t care about your cost basis. Only add if you can truly underwrite the expected return improving, and that means taking a view that goes beyond a default return to multiples that may be unsustainable.

Price can become a fundamental and technical sell offs can manufacture fundamental problems - reflexivity cuts both ways.

The best question you can ask yourself in a drawdown is “from here, what is the range of outcomes and what’s the best use of the next dollar?”. If early in a drawdown you note that every time one sector goes up your portfolio goes down, it could be a decent idea to add exposure to that sector.

The ultimate goal is not to avoid every drawdown but to make sure no single drawdown takes away your ability to act on real opportunities when they arise.

No amount of truisms will help make anyone a better investor, but there is something you can do right now. If this is one of your first few drawdowns, you can observe how you react. Take notes on it. Find out what mistakes you make and then optimize your portfolio, sizing, strategy etc to compensate for those shortcomings. It’s a lot easier to do that than try to fight your own psychology - and anyone who pretends there’s a one size fits all answer to that is lying.

[ion @wadia_23]

@Vedansh_Ag Why is it showing up as catalan language?

[Sachya @sachya2002]

Choreographer: Jisko jo aata hai wo kare 😸

[Ankit Kanodia @kanodiaankit12]

Life is tough! #ChatGPT

[वाक़िफ़ हैं निगाहें 👀 @Tere_do_nainaaa]

Trust the process, trust yourself ✨💯

[Shay Boloor @StockSavvyShay]

$RKLB CEO Peter Beck said some space valuations are “completely untethered to reality” but reliable launch is the exception because almost nobody has actually scaled it.

Out of 142 small-launch startups tracked when Rocket Lab was founded, only two reached reliable orbital cadence: $SPCX & $RKLB.

Thats why access to orbit carries a premium since its scarce, demand is growing and very few companies can actually deliver it.

[Justin Schroeder @jpschroeder]

Fable isn't the first.

In 1999 the department of defense blocked exports of the PowerMac G4 for crossing the 1 gigaflop threshold.

Steve Jobs turned it into an ad.

[Seyed Abbas Araghchi @araghchi]

The Islamabad Memorandum of Understanding has never been closer. Pending its finalization, the media should refrain from entering speculation about its content.

In line with our responsible and transparent approach, all details will be shared with the public in due course.

[Irrational Analysis @insane_analyst]

It's just money. It's made up. https://t.co/SlTeZNdDaX

[Arvind Panagariya @APanagariya]

Dear @RBI: Do not let the psychology of Rs 100 per dollar determine your policy response. 100 is just a number, like 99 and 101. Whether the oil shortage is short-lived or long-lived, the right response at this moment is to let the rupee depreciate. 1/6

[ion @wadia_23]

@bigbasket_com Thank you for resolving the issue.

[ion @wadia_23]

@bigbasket_com Received spoilt product milky mist skyr which i ordered. Came to realise after i opened it today. Did not expect such service. Please resolve issue

[ANI @ANI]

BMC issues advisory for all Mumbaikars and appeals for discretionary use of water as the water level in supply lakes is quite low. BMC has also announced a 10% water cut across Mumbai from 15th May onwards: BMC Chief PRO

[Dan Go @CoachDanGo]

If you sit at a desk for 8 hours, do this before bed:

1. Asian squats x 60 seconds
2. Childs pose lat stretch x 30 seconds/side
3. Couch stretch x 60 seconds/side
4. Hip swivels x 6-8 reps/side

These help reverse the stiffness from sitting while calming your nervous system.

[Serenity @aleabitoreddit]

$LPK up 80% in the last two weeks. Not too shabby at ~$687M MC?

It's probably one of the cleaner ways to play the next Glass Substrate supercycle.

50-100 machines per customer at scale, with "start of 2027 as mass production" across likely $INTC, $GLW, SKC, and others (since they captured ~80% of the major players).

Maybe ~€2M average per machine.

€400M–€1B+ across just 5 players in 2027 (could be more)? Since they basically supply to everyone as a chokepoint. Off ~67.6% blended gross margins.

Seems promising for volume ramp wait time.

[Rishabh Mukherjee @rishabhm]

Taiwan has a 30bps STT on selling equities (15bps intraday). Korea has a 20bps STT on selling equities. Taiex and Kospi are up 44% and 78% YTD. The entire world seems to be lining up at their doorsteps.

Exactly ZERO investors pull the plug on *investing* in India because of STT.

[SpaceXAI @SpaceXAI]

SpaceXAI and @AnthropicAI have also expressed interest in partnering to develop multiple gigawatts of orbital AI compute capacity