What is the moat for AI? Right now, it's enormously expensive to produce an LLM but doesn't AI produce results which, in the long run, will make it easier and easier for any company to produce the same?
For Google? Efficient datacenters, TPUs/GPUs, institutional knowledge, robust crawling infrastructure, gargantuan proprietary data sets, existing partnerships, large catalog of products that can absorb the functionality of competitors products as a feature, etc.