I don't think openai's valuation comes from a data center bet -- rather, I'd suppose, investors think it has a first-mover advantage on model quality that it ca

I don't think openai's valuation comes from a data center bet -- rather, I'd suppose, investors think it has a first-mover advantage on model quality that it can (maybe?) attract some buy-out interest or otherwise use in yet-to-be-specified product lines. However, it has been clear for a long time that meta are just demolishing any competitor's moats, driving the whole megacorp AI competition to razor thin margins. It's a very welcome strategy from a consumer pov, but -- it has to be said -- genius from a business pov. By deciding that no one will win, it can prevent anyone leapfrogging them at a relatively cheap price.