I'd say it is because the $ it takes to build out even a small gpu data center is still way, way more than most small cos can do. It's not an impenetrable moat

I'd say it is because the $ it takes to build out even a small gpu data center is still way, way more than most small cos can do. It's not an impenetrable moat, but it is pretty insulating against startups. Still have a threat from big tech, though I think that will always be true for almost everything