Increasingly, Big Tech Owns Big AI

I feel like I'm taking crazy pills. For all the endless talk about both Big Tech and Big AI, it seems wild how little talk there is around the fact that increasingly, Big Tech owns Big AI. I mean this quite literally, as in ownerships stakes. True, they're not controlling positions, but undoubtedly only because that would actually raise red flags. Instead, these are massive, growing bets that are clear hedges on their own internal AI work, and to try to counter competitors own similar deals.

I've actually written about this a number of times. But with the latest OpenAI and Anthropic funding rounds, it's probably worth updating and spelling it out again. Perhaps a bit more clearly this time, with math...