Forget about that.

Lets focus on the tech firms that produce software.

Two things should happen if AI proliferates into software development:

1) Increasing top line - due to more projects being taken by enabling labour to be more productive 2) Operating margin increasing - due to labour input declining and taking more cost-reduction projects

If those 2 things dont occur - the AI investment was a waste of money from a financial perspective. And this is before I even discount the cash flows by the cost of capital of these high-risk projects (high discount rate).

At some point everyone will be analysed in this manner. Only Nvidia is winning as it stands, ironically, not because of LLMs. But rather because they sell the hardware that LLMs operate on.