Title: Dual Student Networks for Data-Free Model Stealing. Abstract: Data-free model stealing aims to replicate a target model without direct access to either the training data or the target model. To accomplish this, existing methods use a generator to produce samples in order to train a student model to match the target model outputs. To this end, the two main challenges are estimating gradients of the target model without access to its parameters, and generating a diverse set of training samples that thoroughly explores the input space. We propose a Dual Student method where two students are symmetrically trained in order to provide the generator a criterion to generate samples that the two students disagree on. On one hand, disagreement on a sample implies at least one student has classified the sample incorrectly when compared to the target model. This incentive towards disagreement implicitly encourages the generator to explore more diverse regions of the input space. On the other hand, our method utilizes gradients of student models to indirectly estimate gradients of the target model. We show that this novel training objective for the generator network is equivalent to optimizing a lower bound on the generator's loss if we had access to the target model gradients. In other words, our method alters the standard data-free model stealing paradigm by substituting the target model with a separate student model, thereby creating a lower bound which can be directly optimized without additional target model queries or separate synthetic datasets. We show that our new optimization framework provides more accurate gradient estimation of the target model and better accuracies on benchmark classification datasets. Additionally, our approach balances improved query efficiency with training computation cost. Finally, we demonstrate that our method serves as a better proxy model for transfer-based adversarial attacks than existing data-free model stealing methods.