How? They are all losing tens of billions of dollars on this, so far.
Open source models are available at highly competitive prices for anyone to use and are closing the gap to 6-8 months from frontier proprietary models.
There doesn't appear to be any moat.
This criticism seems very valid against advertising and social media, where strong network effects make dominant players ultra-wealthy and act like a tax, but the AI business looks terrible, and it appears that most benefits are going to accrue fairly broadly across the economy, not to a few tech titans.
NVIDIA is the one exception to that, since there is a big moat on their business, but not clear how long that will last either.