It’s a wake up and smell the coffee sort of morning in the AI markets. AI is here to stay. Everyone is using it. Why are prices tanking? It’s about competition, adoption and data sovereignty. Maybe it’s time for a rethink? How did it get so huge so fast? That’s a question about overly cheap liquidity and speculation, which is why Tesla’s numbers are so interesting.
Markets can’t wait for the Iran war to end – so they can get back to speculating trillions on the AI revolution. The hyperscalers expect to reap monopoly scale rents from owning AI closed-weight models and the digital infrastructure of datacentres and chips. But what if households can build their own AI capabilities cheaper and more effectively? Pop!
What if we are completely wrong about AI? A revolution in how tech is being innovated across the economy is clearly happening – but what if we’ve got the winners and losers wrong? What if we’ve misjudged how AI will evolve as companies and individuals innovate AI solutions for themselves, seeking to preserve their data sovereignty and control of their systems?
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