Secretary @howardlutnick is right. The Kimi Panic needs to stop.

— American frontier models are still ahead. When you factor in what’s in the lab, the gap is even larger. As long as we keep releasing, we will stay ahead. Let our horses run.

— As Ben Thompson showed, Kimi’s apparent cost advantage largely disappears once you account for higher token usage and the real cost of running a model this size. Open weights still require expensive infrastructure.

— Anthropic and OpenAI are growing revenue at rates that Silicon Valley has never seen before at this scale. This remains the clearest test of who is winning the market.

President Trump’s light-touch regulatory approach is working. We should remain confident in American innovation. As long as we don’t sabotage ourselves with unnecessary rules, the U.S. will continue to win.