Long Lake co-founder @varunshenoy_ explains why the most valuable layer of the AI stack may not be chips or models: "You look at the whole AI value chain. You start at the compute or chip layer. There's many players there today. I don't know who's going to be the winner in 10 years, in five years. I wish I could index it." "If you move up the stack, there are the foundation models. OpenAI, Anthropic, Grok, Gemini. If you move even further up, there's infrastructure, inference, all the neo…