Cambrian Capital's @_Lonis_ explains why he's extremely bearish on software stocks, as AI labs develop internal models far more powerful than anything they release publicly: "We’re super bearish. We’re hyper bearish. If you remove the memory companies, most of the enterprise value in AI currently is just software companies. Chip designers and networking designers. It’s just the first thing the labs will compete with." "There will be this larger and larger chasm between the quality of the…