Comment by WJW

Perhaps, OR it might be that most people in the markets (think that they) are not all that exposed to the valuation AI labs and so their eventual collapse doesn't matter.

Or perhaps they consider the upside from cheap Chinese models to hedge the effect that OpenAI/Anthropic collapsing would have on their portfolios. This would make sense for (hedge funds holding) most companies: they don't really care about who supplies the AI, as long as they get it at roughly the same price as their competitors.