The vast majority of these bets are not on questions that might produce useful information. Roughly 90% of Kalshi's trading volume (dollars exchanging hands between bettors) is from sports betting, making Kalshi effectively a sports gambling website with a small prediction market attached.
What's becoming more clear is that hyperscalers are the true landowners of AI. They are the custodians and the ones that benefit directly from the demand for compute in more Cloud computing and digital Advertising revenue.
If you wanted more evidence that AI is changing everything, look no further than Arm: the company was famous for its high margin IP-licensing business model, but this week announced that instead of (just) facilitating other company's making chips, it would start making and selling chips itself.
However, the most recent evidence — particularly Copilot Cowork — is that the companies who are best able to harness (pun intended) model capabilities are the model makers themselves.
1mo ago
Underscored — save the words that stop you in your tracks.
