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AI产业链的三层架构：从“卖铲子”到“淘金客”的价值传导要理解上游企业业绩与股价的诡异背离，就需要回到AI产业链的三层架构——一个形象的“淘金热”比喻，能清晰拆解各环节的价值逻辑与生存现状，进而找到这一矛盾的根源。
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Their letter had a more positive impact than the null action, including some credit for being one of the two (together with xAI) frontier AI companies who, being okay with the bill, somewhat undermined the "sky is falling" attitude of many opponents; but the letter was very far from what supporting it on net, at the very end, would actually look like.
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