> He told the BBC that the company owns what he called a “full stack” of technologies, from chips to YouTube data to models and frontier science research. This integrated approach, he suggested, would help the company weather any market turbulence better than competitors.

I guess but is it better for an investor to own 2 shares of Google or 1 share of OpenAI and 1 share of TSMC?

Like I have no doubt that being vertically integrated as a single company has lot of benefits but one can also create a trust that invests vertically as well.

There may be firm specific risk etc., but there is also a concept of double marginalization, where monopolies that exist across the vertical layers of a production chain will be less efficient than a single monopoly, because you only get a single layer of dead weight loss rather than multiple.

https://en.wikipedia.org/wiki/Double_marginalization?wprov=s...

Well if AI goes poof - the equity markets take a really big bad hit. So I would probably move out of equity and into something more concrete and reinvest if you can time the market bottom.

Nvidia earnings tomorrow will be the litmus test if things are going to topple over.

OpenAI is privately held. Regular retail investors can't buy shares.

With those 2 shares of Google you are also buying a piece of their money printer, i.e. the advertising business.

OpenAI going poof would have a negative impact on TSMC demand (revenue), right?