Weekly Viewpoint Update: Industry Comparative Advantage – 260726

English summary

What is the US stock AI sector falling on Friday? It is most likely the open-source vs. closed-source debate. The weekly decline in US stocks this week revolved around the argument over model distillation, and Friday's trigger was Jensen Huang's first tweet advocating open-source models. The tweet was actively reposted by Palantir, Microsoft, etc., but the alliance excluded the three closed-source model players: Anthropic, OpenAI, and Google. Combined with Anthropic just signing a 2GW MI450 chip supply agreement with AMD on Thursday, this is likely a counterattack by NVIDIA, given that Anthropic has already reached important cooperation with chips outside NVIDIA, such as TPU, Trainium, and AMD. Amid this chaotic narrative, the US SOX index opened low and fell, and star stock Intel dropped 8% after perfect earnings.