Without a moat, P settles to MC. No one makes significant profit.

xAI covers their cost of N-1 datacenter while running their own models in N and building out N+1.

And they make all of their money from the N-1 data center they are renting which is sand moat.

What point are you making?

	▲	chatmasta 2 hours ago \| parent [-]
		What? They make money from their own inference and models too, which they can train effectively for free by funding their operations with rental income from their last gen datacenter.