China's Open Models Now Rank Just Behind Anthropic and OpenAI, Analyst Says

China's open models are closing in on OpenAI and Anthropic, according to an analysis. On the Artificial Analysis intelligence index, Moonshot and Z.ai rank just behind Anthropic and OpenAI, ahead of Meta and Google.
The analysis noted that while open weights are cheaper, they still need somewhere to run — meaning cheaper models drive more usage, and more usage drives more compute demand. The analyst said the "picks-and-shovels" trade, referencing $NVDA, wins whether the model is open or closed.
Category: analysis
Market: stocks