Microsoft AI CEO Mustafa Suleyman stated in late September 2026 that a single frontier AI training run could soon cost tens of billions of dollars, possibly reaching a hundred billion. He believes only five or six laboratories worldwide will have the resources to fund such investments in the coming years. He noted that training compute costs have grown one trillion-fold over the past fifteen years, while inference costs have fallen three hundred-fold in just two years. This surge in training costs is expected to accelerate consolidation in the sector, with only a handful of players remaining competitive at the frontier.
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