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Google, Nvidia, and OpenAI – Stratechery by Ben Thompson

10 days ago
  • #Google vs OpenAI
  • #Nvidia Challenges
  • #AI Competition
  • Star Wars resonates due to its perfect representation of the hero’s journey, with Luke Skywalker's transformation mirroring the classic narrative structure.
  • OpenAI and Nvidia have been the heroes of the AI revolution, but now face challenges from Google's advancements in AI and infrastructure.
  • Google's Gemini 3 outperforms OpenAI's models in benchmarks, leveraging vast compute resources, posing a threat to OpenAI's model superiority.
  • Nvidia faces competition from Google's TPUs, which could undermine Nvidia's market dominance and high margins if TPUs become a viable alternative.
  • OpenAI's consumer base and developer API stickiness provide a moat, but its refusal to adopt an advertising model may limit its monetization potential compared to Google.
  • Google's advantages in video generation (YouTube) and advertising monetization position it strongly in the AI race, potentially outlasting OpenAI's current lead.
  • Aggregation Theory suggests that controlling demand (like Google does) is more defensible than competing on product differentiation alone, a challenge for both OpenAI and Nvidia.