Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Event Contracts
New
Predict price moves and seize opportunities
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
CFD
Stock CFD Derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
JP Stocks
Top Japanese stocks, all in one place
Stock Futures
High leverage, 24/7 trading
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
Morgan Stanley outlined 3 scenarios for the end of the “AI model war,” specifying the main beneficiaries of each outcome 🤯
The key question
The AI market is currently witnessing a confrontation between powerful closed models offered through paid subscriptions by OpenAI, Anthropic, and Google, and free/low-cost open-source models from Alibaba, Tencent, and DeepSeek. The issue at stake is who will win mass-market consumers and capture the majority of revenue.
Scenarios
1. Victory for closed models: open-source models fail to catch up with closed models in quality and lose the battle for customers
Beneficiaries:
🔵 Developers of closed models (OpenAI, Anthropic, Google)
🔵 Cloud giants (Amazon, Google)
🔵 Cybersecurity (Palo Alto Networks, CrowdStrike)
2. Draw (base-case scenario): open-source models handle basic tasks well, while closed models lead in complex specialized tasks
Beneficiaries:
🔵 Cloud giants (Amazon, Google, Microsoft)
🔵 Infrastructure software (Palantir, Appian, Datadog)
🔵 Cybersecurity (Palo Alto Networks, CrowdStrike)
3. Victory for open-source models: the world shifts to mass adoption of open-source models, with companies running AI locally or on users’ devices
Beneficiaries:
🔵 Developers of open-source models (Alibaba, Tencent, DeepSeek)
🔵 Cloud giants (Microsoft)
🔵 Device manufacturers (Apple, Dell, HPE)
🔵 Application software (Shopify, SAP, ServiceNow)
💬 Regardless of the outcome of the AI war, chip manufacturers (Nvidia), the energy sector (BE, WMB, LBRT), and cybersecurity will benefit.