> 2) investing in the chip manufacturing
The only thing I see as obvious is AI is going to generate tremendous wealth. But it's not clear who's going to capture that wealth. Broad categories:
(1) chip companies (NVDA etc)
(2) model creators (OpenAI etc)
(3) application layer (YC and Andrew Ng's investments)
(4) end users (main street, eg ChatGPT subscribers)
(5) rentiers (land and resource ownership)
The first two are driving the revolution, but competition may not allow them to make profits.
The third might be eaten by the second.
The fourth might be eaten by second, but it could also turn out that competition amongst the second, and the fourth's access to consumers and supply chains means that they net benefit.
The fifth seems to have the least volatile upside. As the cost of goods and services goes to $0 due to automation, scarce goods will inflate.