The AI Stack Is Concentrating — and So Are the Decisions.

Today’s signals are about concentration across the AI stack. NVIDIA’s reported quarterly results underline the scale of infrastructure demand, while reported negotiations around Hugging Face, long-term compute commitments and cloud distribution show how model access can remain dependent on a small number of commercial, technical and contractual choices. The practical question for organisations is not whether AI is ‘open’ in theory; it is which dependencies, terms and human decision points hold in practice.