The cloud industry has high barriers to entry due to high costs, expertise requirements, and capital needs, leading to an oligopoly with a few players and moderate profit margins.
Cloud is like this. I think cloud is a good example of this. There are three, maybe four, players within cloud. I think that's the same for AI, three, maybe four. The reason is that it's so expensive. It requires so much expertise and so much capital to run a cloud company.