If there was no moat, nvidia and meta would have SoTA models too.
2. Any open models created from this will not necessarily need their silicon, see apple mlx.
Nvidia could just the same rent those GPUs out for inference and actually have way better margins than they do right now. Antitrust and putting all your eggs in one basket are why they don’t, similar to TSMC.
2. Neither do AI labs. See Anthropic buying TPUs, deploying with AMD. OpenAI on Maia, Cerebras, their own wafers.
Why would you invest money in a company, and then enter the market to compete with them?
They exist to keep people using and advancing the tools on their hardware.