Earlier quoted context omitted.
Chinese open weight models are great for this turn, but American private models generate orders of magnitude more cashflow. This cashflow = investment in training future models. It's unclear how Chinese open weight companies are going to compete in future rounds if they can't raise the same capital for training runs. The American business model is exceedingly efficient at building large businesses from zero. I wouldn…
It’s unclear where American labs future capital will come from. They pretty much exhausted private options at that point and it’s not clear how successful an ipo would be at the current time
It’s unclear to you, perhaps? But they’ll raise funds and/or debt as needed in the US capital markets as they have been doing.
> They pretty much exhausted private options at that point
I don’t think this is true. The evidence is that they keep raising funding for build.
> it’s not clear how successful an ipo would be at the current time
It’s always unclear, but also IPO success doesn’t necessarily translate into long term business success.