I’d say Nvidia is selling shovel factories (training hardware), OpenAI is renting shovels (trained models as a service), and DeepSeek gave everyone a shovel for

I’d say Nvidia is selling shovel factories (training hardware), OpenAI is renting shovels (trained models as a service), and DeepSeek gave everyone a shovel for free. But Nvidia is also selling steroids (inference hardware) that everyone will need to use their new free shovels. This analogy may have gotten out of hand.