No. of Recommendations: 13
"We have no Moat, and Neither does OpenAI"
One thought:
Though that may be true, I think one would have to take it in the context of "in the market for foundation LLM models". Alphabet and Google do a lot of other things, some of which have the best moats on the planet. That comment doesn't mean there isn't an investment case for Alphabet.
If one sees offering LLM-based answers to searches as a thing that Google just has to do, then it's just a cost to be minimized--as with Apple, I can't see that it fundamentally matters whether that model is supplied by Alphabet or someone else. GM never had a moat in car batteries, but sold lots of cars containing them.
Jim
