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Fable is probably ~2-2.5T parameters, not 10T. Kimi K3 is 2.8T params, trained on maybe 20–30k Blackwell-equivalents. It lands within spitting distance of Fable 5 in terms of capabilities (5, not 5.1). Anthropic has far more compute than Moonshot, better rl environments, better architecture and better optimizers and all of that adds to capability per parameter. So if Fable is only slightly ahead of K3 with this in mind, it's almost certainly a smaller model. GPT-5.5 and 5.6 are smaller still (I'll say more on that later)