Commoditization is a beautiful thing. It seems Anthropic and OpenAI are really struggling to maintain much of a moat. Mistral might not be leading but it's not trailing by that much either. And of course the Chinese are doing their own thing quite successfully.

The reality is that the US is betting its economy on data centers at great expense and is exposing its economy to great risk.

Also while geographically a lot of the money and processing power is in the US, the US has been relying on immigration to power its universities and especially AI research has roots all over the globe. India, China, Russia, Europe, etc. AI related know how is finding its way back to all these places.

So, I'm not too worried about the long term here. It will be interesting to see if Anthropic and OpenAI survive their IPOs. Seems like a risky financial bet at this point given the apparent lack of a moat. But if it works out, it will result in a lot of that IPO money being invested in data centers abroad. Including in the EU. Because data residency is a thing here and the EU is too big of a market for companies with that kind of valuation to ignore. We also produce a lot of energy infrastructure (e.g. gas and wind turbines). Those data centers will need lots of power.