> What gets me is that this isn't even a software moat anymore - it's literally just whoever can get their hands on enough GPUs and power infrastructure.

I'm curious to hear from experts how much this is true if interpreted literally. I definitely see that having hardware is a necessary condition. But is it also a sufficient condition these days? ... as in is there currently no measurable advantage to having in-house AI training and research expertise?

Not to say that OP meant it literally. It's just a good segue to a question I've been wondering about.