Well, I'm not really talking about freezing models forever either, I'm saying that nonstop training is a necessary part of their business. I don't think slowing down is untenable, I just think it's silly not to expect & account for ongoing training costs. That's all my original comment meant.
I also don't understand why you think the open labs couldn't catch up to a given level of quality. If something's been done twice already, why can't a well funded team of experts somewhere else do it a third time? Sounds like wishful thinking.
Are you confident that a step change in open source is unlikely? The industry seems to disagree, considering billions are being spent on them and billions are being spent to stay ahead of them. Open step changes have happened before (eg R1, or heck, self-attention). By the way, AIs themselves are quite good at writing GPU kernels now.
2. Nobody said anything about a fixed target. Not sure why you interpreted 'slow down' as 'freeze current models forever'.
>And what happens to their valuations if they abandon the goal of building AGI?
The capabilities these companies already have, combined with their growing userbases, revenue and distribution are plausibly enough to sustain trillion dollar businesses already. OpenAI is a company with a billion active users that has started running ads that reached ARR of $1 billion in the first 2 months and Anthropic is a company that hit $11B+ in revenue last quarter after a pretty massive jump.