SemiAnalysis Founder: AI Profits Flow Downstream, Not to OpenAI

SemiAnalysis founder Dylan Patel argues that most of the value created by AI models is captured by downstream users like Jane Street and Meta, with application-layer companies often out-earning the model labs themselves.

2026-08-26 ~ 2026-08-27 · 2 related posts

• Dylan Patel: Jane Street and Meta capture AI's value, not OpenAI or Anthropic — MatthewBerman · 2026-08-26
• SemiAnalysis: Application layer captures more AI value than model labs — VibeMarketer_ · 2026-08-27