TS Lombard argues that as AI models become commoditized, lasting value shifts to low-cost compute suppliers. $SMH $QQQ Nvidia requires at least 51% of data-ce

TS Lombard argues that as AI models become commoditized, lasting value shifts to low-cost compute suppliers. $SMH $QQQ Nvidia requires at least 51% of data-center client services to go to non-Chinese firms. Meanwhile, its share of China's AI accelerator shipments fell to 34% in the first half of 2…