Morgan Stanley said the spread of open-weight AI models such as Kimi K3, Qwen and Llama will expand the overall market rather than threaten leading companies in the industry, Walter Bloomberg reported on August 4.
The bank said falling AI costs could accelerate corporate adoption as Jevons Paradox takes hold, with lower costs driving higher demand.
Morgan Stanley added that 63% of companies currently use both open and closed models, indicating the two approaches are more likely to coexist than compete directly.
It also said demand for AI computing infrastructure will continue to rise regardless of which model architecture becomes dominant, naming Nvidia as the biggest beneficiary.
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