If Opus 4.6-level intelligence runs on consumer GPUs, model houses lose their infrastructure moat entirely. The competitive advantage collapses to zero when compute barriers disappear. $NVDA benefits short-term from GPU demand spike, but OpenAI/Anthropic face margin compression and commoditization risk. Open-source distribution at that capability level means pricing power evaporates. Watch for enterprise lock-in through API ecosystems as the only defensible position left.