If no one is willing to pay increasingly high costs of training frontier models, we'll still have the models that we have now that can be fine tuned for incremental improvements. Still tons of utility in that, but little investor upside.
From a recent METR report, benchmarks point towards an acceleration, LLMs are getting better at a faster rate. There's no sign that we are about to reach the top of the S curve.
> increasingly high costs of training frontier models
Somewhat surprisingly the gains do not seems to come from more compute, we have on the METR report:
> We are confident that the acceleration was not due to an acceleration in the scaling of training compute.
Link to said report: https://metr.org/blog/2026-11-05-anthropic-ai-rd-acceleratio...