---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43199440.md"
description: "An analysis by JP Morgan on the winners of open-source vs. closed-source in different scenariosThe conclusion is that regardless of whether open-source weights, closed-source weights win or lose, or if it's a dead heat, large cloud providers and NVIDIA will all winThe logic behind open-source models benefiting cloud providers: The rise of open-source models is dismantling the monopoly of closed-source models, transforming CSPs from mere resellers of tokens into AI operating systems: Cloud providers control routing rights, customer relationships, and pricing power, allowing them to directly host open-source models and sell tokens, thereby reducing external profit-sharing. Meanwhile, open-source competition drives up training investment and call volumes.This ultimately forms a positive cycle: Model layer rents decrease → Cloud provider monetization efficiency improves → Inference price drops stimulate new demand → High data center utilization drives continuous compute investment$NVIDIA(NVDA.US)$Alphabet(GOOGL.US)$Amazon(AMZN.US)$Microsoft(MSFT.US)$Palantir Tech(PLTR.US)"
datetime: "2026-08-05T01:59:09.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43199440.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43199440.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43199440.md)
author: "[lyhalfway](https://longbridge.com/en/profiles/3372973.md)"
---

# An analysis by JP Morgan on the winners of open-so…


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- [PLTR.US](https://longbridge.com/en/quote/PLTR.US.md)

## Comments (9)

- **Klay_ · 2026-08-05T03:32:15.000Z · 👍 1**: Yes, over the next five years, margins will increasingly shift towards the inference layer and routing layer; the models themselves are merely inventory. You might want to read this Cloudflare article: Kimi and GLM are already being processed on the same SGLang pipeline, going live with just a simpl
  - **lyhalfway** (2026-08-05T03:48:41.000Z): Yes, enterprise AI applications are entering the engineering phase, and cost control is essential. Could you please share the link to Cloudflare's article? I'd like to learn from it as well.
- **一买就被套 · 2026-08-05T03:28:03.000Z**: Why can't I trade? Isn't it enough to just enable T+0?
  - **全村炒股希望** (2026-08-05T03:28:49.000Z): Open the global proxy, bro, or use a HK ☎️ card. That works for me.
  - **爷傲奈我何** (2026-08-05T03:46:51.000Z): Bro, what exactly do you mean? You're asking this question under every blogger's post. Many people have already replied to you, yet you keep asking 😅😅😅
  - **YY爱吃红烧肉** (2026-08-05T03:52:02.000Z): Is this bro trolling...?
- **AngerBird · 2026-08-05T02:51:44.000Z · 👍 1**: Mid-tier AI faces infinite involution and continuous depreciation;Top-tier computing power resources and top-tier intelligent capabilities remain continuously scarce and continue to rise in price.