If the IPO was at 20B maybe I could throw a 1000$.

But at such numbers it's nonsense.

I don't see any moat. LLMs are commodities.

Enterprise is on Gemini/NotebookLM and Copilot as it's a natural extension of the Google and Office suite they use.

Devs are in Anthropic camp, but they will jump as soon as they can save 90% of the money for 99% of the output.