For MSFT, AMZN, GOOG, the competitive advantage comes from having huge datasets (that Nvidia doesn't have). It's a symbiosis that benefits the data-rich and GPU-rich players.

This still makes little sense as that scale will always matter. If you can drop the compute cost of a model by 10x it means you can increase model integrity/intelligence/speed etc beyond what your compute bound competitors have.

Simply put, for the time being huge datasets are going to be needed and those with bigger (cleaner?) datasets will have a better behaving model.

Where is the symbiosis? If data is the differentiator, how do the data owners benefit from Nvidia eating into their margins?

It's sumbiosis based on a common factor they both appreciate:

- the data/processing having to be large means the data-owners have a benefit

- the data/processing having to be large means NVIDIA also has a benefit (sells more GPUs to handle all that load)

Data owners are benefitting from having access to data while others don't.

High processing cost is not a benefit to them at all. It's just a cost eating into their margins.