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The current AI race is like fishing for big fish; if you pull the line too quickly out of impatience, it will break, but if you pull slowly, everyone can enjoy a good meal 😋 The key point now, besides who can first turn AI spending into scalable operating profit, is that AI revenue is highly concentrated in companies like OpenAI and Anthropic. Big companies sell computing power to AI companies, and AI companies then buy computing power back, creating a spiral that can go up or down. From Nvidia's recent guarantee for the OpenAI project being revised down from 250 billion to 120 billion, it’s clear that some are starting to actively control risk. Nvidia, as the biggest beneficiary of this AI wave, is beginning to hit the brakes. This spiral has started to self-regulate. Profit growth is fundamental, but now we must also magnify the quality of growth. Only companies that can turn AI spending into stable profits can continue to survive. $NVDA $ANTHROPIC $OPENAI