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Many of the coding wrapper companies have recently changed their monetization to move almost exclusively to usage based. It’s a necessary step for these companies to be GM+ but it will also accelerate the economic incentive for the underlying Foundational Models to “move up the stack” as well. Otherwise, the FMs risk being disintermediated by agents/tool calls. Based on the recent valuations of the FMs, it’s unlikely that they can afford to let this happen. Next few quarters will be really interesting.