Comment by Analemma_
Seems like despite all the doom about how they were about to be "disrupted", Google might have the last laugh here: they're still quite profitable despite all the Gemini spending, and could go way lower with pricing until OAI and Anthropic have to tap out.
Google also has the advantage of having their own hardware. They aren't reliant on buying Nvidia, and have been developing and using their TPUs for a long time. Google's been an "AI" company since forever