Chamath Palihapitiya warned on July 18 via X that a US ban on open-source AI could harm the stock market, arguing that American companies would face a 50x cost disadvantage. He stated US firms could pay between $26 and $56 per million tokens for proprietary AI access, while foreign competitors using open-source models would pay roughly $0.50 to $1 for the same capability. Palihapitiya noted that AI token costs at his own company are doubling approximately every 45 days, and that export controls would not make open-source AI disappear globally but would bar US companies from using it while competitors in China, Europe, and elsewhere continue building on freely available models. Jack Dorsey replied with a simple “yes” to the post. Palihapitiya concluded, “The future is open source. We need to embrace it and get on with it.” The article states that if US companies face higher operational costs for AI integration, earnings estimates get revised downward, margins compress, and valuations follow.