> the relevance that investors assign

I think there is also a perhaps the need to assign air-quotes to "investors" when talking about the US markets.

There's too much fluff and noise there. Too much (over)leveraged trading. Too much speculation.

What the real investors think is hidden behind the actions of the speculative traders.

> I think they do not believe that big corporations in the US or Europe would actually use chinese models

The Chinese models are open-weight. You can download them and run them on your own servers. Or you can outsource to Mistral, Privatemode or any of the many other US/EU inference hosters.

So the "security, regulatory and/or business continuity concerns" arguments are effectively non-existent. And whatever argument does possibly remain, also applies equally to Anthropic, OpenAI & co.