In some takeoff scenarios, the value of compute becomes too high to sell. The opportunity cost of selling the chips just becomes too high. Eventually it becomes more profitable to keep chips rather than to sell them to anyone else. Not long after that, it may become vastly more profitable still. At that point, compute probably starts to look more like political currency. This is one reason most frontier labs are working on their own chips. At a certain point, no one sells freely anymore. There…