Also I think that they realize this is just a money losing proposition right now for the most part. And they're not going to have a problem getting in later when there's a clear solution. Why fight it out? I don't think they're going to miss much because they can use any models they need and as you said some of that stuff may be run on their servers

I can make a case: Building their own models like Nova and Titan allow them to build up expertise in how to solve hyperscaler problems. Think of it like Aurora, where they have a generally solved problem (RDBMS) but it needs to be modified to work with the existing low-level primitives. Yes, it can be done in the open, but if I'm AWS, I probably want to jealously guard anything that could be a key differentiator.