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🚨 OpenAI cuts its valuation target to $1.25T after pitching investors a higher number

The FT reports the company backed off its first ask.

• The new target is $1.25T, down from the earlier pitch
• The ask got scaled back after the higher price was floated
• Compute bills are the reason the number matters, since the raise funds them
🇨🇳 Kimi K3.1 Pro and a Highspeed variant just showed up in the Kimi Code docs

Moonshot listed two new models for its coding product, with no announcement post.

• K3.1 Pro is the main model
• K3.1 Pro Highspeed is the faster tier
• No independent benchmark scores yet, so quality claims are unverified