I think that's a very possible outcome. A lot of people investing in AI are thinking there's a google moment coming where one monopoly will reign supreme. Google has strong network effects around user data AND economies of scale. Right now, AI is 1-player with much weaker network effects. The user data moat goes away once the model trains itself effectively and the economies of scale advantage goes away with smart small models that can be efficiently hosted by mortals/hobbyists. The DeepSeek result points to both of those happening in the near future. Interesting times.