340-page AI report: the AI 'space race,' the next billion user opportunity

Internet Queen Mary Meeker released a 340-page AI trends report after a six-year absence, pointing out that the cost of AI reasoning has plummeted 99.7% in two years, and Chinese models are rising at very low cost; OpenAI is valued at $300 billion (33 times revenue) but faces cost challenges, and the cost of Chinese AI models may be as little as 0.2% of the GPT-4.5,. DeepSee and others are clearly coming up later; India became its second largest market (13.5%) surpassing the US (8.9%), and the report predicts that the next billion users will skip the traditional application layer and go directly to the ecosystem centered on AI intelligences.