These ridiculous market caps can only be justified if LLMs can ultimately produce outputs that are above human capabilities OR reduce costs and perform human tasks for cheaper than the human rate. Neither of these things have happened thus far and the incremental gains are decreasing more and more.

The OpenAIs and Anthropics are going to get eaten by open source, I don't see prices going up, prices are going to crater. The models are going to be more and more commoditized.