I do not believe for a second that any of those people investing tens of billions of dollars are doing it to "get to AGI". They would only be able to profit from a AGI if it could be simultaneously (a) weaponized and (b) strictly controlled by one party, and there is no one crazy enough that these could be achieved.
If you tell me that people are pouring all that money into data centers because they believe that most applications will use some form of LLM or VLM as the main driver of machine-to-machine and machine-to-person interface, I'd be more inclined to buy it. But then I'd respond that it seems that LLMs are reaching a point of diminishing returns and the big next move is to make it easy and faster to distill/fine-tune the LLMs for specific business needs, which is something that should be possible to do with the existing infra already (I guess?)
If you tell me that people are pouring all that money into data centers because they believe that most applications will use some form of LLM or VLM as the main driver of machine-to-machine and machine-to-person interface, I'd be more inclined to buy it. But then I'd respond that it seems that LLMs are reaching a point of diminishing returns and the big next move is to make it easy and faster to distill/fine-tune the LLMs for specific business needs, which is something that should be possible to do with the existing infra already (I guess?)