>Similarly, it seems like open weights models and high-end models could co-exist? Low-end and premium smartphones are still overwhelmingly either Android or Ap

>Similarly, it seems like open weights models and high-end models could co-exist? Low-end and premium smartphones are still overwhelmingly either Android or Apple. And I'm sure open weights and premium models will co-exist. But that's not the future the current valuations are predicated on. I agree there's no way to say where the market structure will end, but I think we know enough to say where it won't end up. And some of the supporting players are starting to see the handwriting on the wall: https://www.reuters.com/business/blackstones-qts-terminates-digital-gateway-data-center-project-virginia-2026-07-02/ https://www.reuters.com/business/blackstones-qts-terminates-...