(https://www.cnbc.com/2026/08/13/big-short-investor-steve-eisman-sees-an-achilles-heel-in-the-ai-boom.html) in AI concentration around OpenAI and Anthropic. Fair criticism on the model side — but here's what he's missing: the hardware that runs those models *has* to scale regardless of whether two companies or ten companies own the training layer. $NVDA posted $147.8B in annual revenue with 52.2% net margins and $63.7% ROIC.

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