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20 JUL 2026 · Ben Thompson

Open weights AI models, such as Kimi K3, are not free to serve, as their development and deployment incur significant research and development (R&D) expenses, which are a fixed cost independent of revenue. The cost of generating tokens, which drive revenue, also varies significantly between models, rendering token-based pricing measures like Kimi's $3 per million input tokens and $15 per million output tokens less meaningful. AI summary