Silly question: how can OpenAI, Claude and all, have a valuation so large considering all the open source models? Not saying they will disappear or be tiny (closed models), but why so so so valuable?
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Valuation can depend on lots of different things, including hype. However, it ultimately comes down to an estimated discounted cash flow from the future, i.e. those who buy their shares (through private equity methods) at the current valuation believe the company will earn such and such money in the future to justify the valuation.