Stop Celebrating AI Training Breakthroughs. Inference Is Where the Real Money Lives.
Everyone celebrates AI training breakthroughs, but the real battle isn’t about who builds the smartest model—it’s about who can run it cheaply and fast enough to matter. Inference is the operational bottleneck that determines whether AI actually works in the real world, and it’s where the next competitive moats are being built. The model is not the moat. The pipeline is.