The analyst observes that despite recent claims of a settled AI race, new solid models from OpenAI, xAI, Meta, and open-weight models from GLM, with more in sight, demonstrate ongoing intense competition. He asserts that anyone with sufficient resources can build frontier or near-frontier models, making it an order of magnitude cheaper to be a fast follower.
The AI model market is hyper-competitive, preventing any single player from establishing a permanent lead and primarily benefiting consumers of intelligence.