[killerstorm]

It doesn't look like they're cash-strapped, more like they want to raise stakes.

To play in the same league as Google and Microsoft you have to be big. So they need to increase enterprise value to be taken seriously.

That's what investors expect them to do.

The only other option is to close it down, as OpenAI would quickly become obsolete if they can no longer produce frontier models.

As for the moat, it's not something you can just conjure, right? Perhaps the whole point of these acquisition is to create a moat, but only time will tell if that worked.