Open-source models improving gives tremendous power to neoclouds

This is what many people don’t understand
> $NBIS, for example, only offers open-source models through its managed inference platform
> It allows enterprises to fine-tune and deploy open models for internal workloads much more cheaply than using the OpenAI or Anthropic APIs
As open models improve, demand for this infrastructure increases
The GPU supply remains the same. The number of valuable workloads competing for that supply rises
That increases utilization, strengthens pricing power and gives neoclouds, especially leading ones like Nebius, more bargaining power against AI labs demanding compute
If enterprises demand cheaper open-source options en masse, Nebius will be in no rush to lock up its capacity in a hyperscaler or AI lab deal
It can become the hyperscaler itself
The neoclouds offering the best combination of price, speed, reliability and enterprise support will capture a disproportionate share of that demand
Combine better efficiency with higher pricing power, and you get superior earnings, greater access to GPUs than competitors, better financing options and an inference-powered flywheel that compounds over time