І більш детальний аналіз від a16z на цю ж тему. > What we don’t know, and what has now become the critical question, is: Where in this market will value accrue? Over the last year, we’ve met with dozens of startup founders and operators in large companies who deal directly with generative AI. We’ve observed that infrastructure vendors are likely the biggest winners in this market so far, capturing the majority of dollars flowing through the stack. Application companies are growing topline revenues very quickly but often struggle with retention, product differentiation, and gross margins. And most model providers, though responsible for the very existence of this market, haven’t yet achieved large commercial scale. In other words, the companies creating the most value — i.e. training generative AI models and applying them in new apps — haven’t captured most of it. > it’s reasonable to guess that 10-20% of total revenue in generative AI today goes to cloud providers. Most of it is spent at the Big 3 clouds: Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure. > There don’t appear, today, to be any systemic moats in generative AI. As a first-order approximation, applications lack strong product differentiation because they use similar models; models face unclear long-term differentiation because they are trained on similar datasets with similar architectures; cloud providers lack deep technical differentiation because they run the same GPUs; and even the hardware companies manufacture their chips at the same fabs. Рекомендую! Зараз детально досліджую цю тему, буду шерити багато матеріалів. Все більше людських і економічних ресурсів вливається в сферу Gen AI. Не стоїть питання "як технічно все зробити", з цим все більш-менш ясно. Ключове питання — як створити цінність і як її захопити (= змусити когось платити за продукт).