It really does seem like a lot of the insane valuations are turning out to be exactly that.<p>There was a lot of trust within the markets that AI companies would be able to leverage closed models for permanent rentseeking. Deepseek proved that this is - at least for now - wishful thinking not based on reality. Similar for the "new dawn" of nuclear power for supporting increasingly more power hungry LLM server farms.<p>I'm certainly excited for the future open models. Interesting times indeed.