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Artificial intelligence was never only a technological question. From its earliest commercial phase, it became an arena in which financial capital, infrastructure control, and legislative influence converged in ways that resemble the great industrial monopolies of the twentieth century - but operate at a speed and opacity that earlier antitrust frameworks were never designed to address. This book examines the structural forces through which a small number of corporations have positioned themselves to govern not merely markets, but the foundational layers of how intelligence itself is produced and distributed. The financial consolidation behind this process is neither accidental nor subtle. The aggressive acquisition of startups, the systematic absorption of competing talent through retention contracts and equity structures, and the channeling of sovereign wealth and private capital into a handful of vertically integrated AI developers have created dependency chains that regulators are only beginning to map. OpenAI, Microsoft, Google DeepMind, and Meta have not merely competed they have restructured the landscape so that meaningful independent competition requires access to capital, compute, and data that only incumbents can provide. What appears as innovation is often the formalization of market closure. Below the software layer, a more tangible struggle has unfolded.
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