This reminds me of the railroads, where once railroads were invented, there was a huge investment boom of eveyrone trying to make money of the railroads, but the competition brought the costs down where the railroads weren’t the people who generally made the money and got the benefit, but the consumers and regular businesses did and competition caused many to fail.
AI is probably similar where the Moore’s law and advancement will eventually allow people to run open models locally and bring down the cost of operation. Competiition will make it hard for all but one or two players to survive and Nvidia, OpenAI, Deepseek, etc most investments in AI by these large companies will fail to generate substantial wealth but maybe earn some sort of return or maybe not.