> AI also has very powerful open models (that can actually be fine-tuned for personal use) that can compete against the flagship proprietary models.

It was already tough to run flagship-class local models and it's only getting worse with the demand for datacenter-scale compute from those specific big players. What happens when the model that works best needs 1TB of HBM and specialized TPUs?

AI computation looks a lot like early Bitcoin: first the CPU, then the GPUs, then the ASICs, then the ASICs mostly being made specifically by syndicates for syndicates. We are speedrunning the same centralization.