Every country in the world outside Europe and United States will adopt/use an open Chinese model because it will cost them relatively nothing, the only thing they have to supply is hardware. And the Chinese certainly can provide that. And so can several other companies outside of China. But those companies won’t be OpenAI, Anthropic or even Nvidia.

Where is their moat? Ultimately, where is their profit? answer? There is none at least there is none that will come close to whatever imaginary valuation Wall Street comes up with, in the best of times, while Wall Street may be able to carry one such company, but two within the same year?