Here's How the AI Trade Blows Up (Hint: It Has to Do With OpenAI, Anthropic, and China)

While the AI trade has driven significant returns, a potential vulnerability exists: hyperscalers have committed $700+ billion to AI infrastructure largely driven by OpenAI and Anthropic demand. If Chinese competitors' cheaper open-source models gain market share, these two companies could lose pricing power, leaving hyperscalers with massive stranded investments and poor returns on capital.