Alice Han

and U.S.

dominated that and the value created by software, it's really, I think, going to be the clods and the open A.I.

's.

that benefit from the enterprise part of the value chain.

The enterprise can pay for it, and they tend to be stickier in terms of the subscription.

So I think that we'll end up in a world in which maybe the majority of the value is captured by Anthropic, by OpenAI,

But that doesn't mean that there won't be anything left on the table for Alibaba, for ByteDance, for Kimmy.

It's just a different market that they're inhabiting.

And we haven't even talked about some of the other use cases.

There's now Chinese AI chatbot toys.

That is going to be a big market, I think.

And certainly it marries well with Chinese manufacturing and hardware capabilities.

You said toys?

Yeah.

Yeah, they're these toys that are being sold that can speak directly to children and teach them and interact with them.

I don't know if you've ever read Neil Stevenson's Diamond Age, but it's this kind of AI primer that is part of the story.

We're already living in that Diamond Age, so to speak, in the sci-fi realm.

That is one area.

And then another area in which the, I would say, OpenAI and Anthropic have not been as competitive is in multi-language.

If you look at the models coming out of China, it makes sense because they've been trained a lot on multi-language English, Chinese, and other language datasets.