That’s a great deal for anyone building on top of these models. It’s a much tougher one for the labs building them, most of which are still losing money hand over fist. This is starting to look like the kind of race to the bottom that plays out in any commodity business, oil, airlines, chips. Prices fall until only the lowest cost producer survives, and everyone else prays for a shakeout. There is no moat in AI right now, after all.