AI is hands down the most researched topic in CS departments. Of the 10 largest companies (by market cap), only 3 aren't balls-deep in AI R&D. The fastest growing (private or public) companies by revenue are also almost all companies focused primarily on AI (Anthropic, OpenAI, xAI, Scale AI, Nvidia).

And the money isn't even the most important part. It's all about mindshare and collective research time. The architectural concepts can be researched and developed on top of open models, so even individual relatively poor researchers unaffiliated to anything can make breakthroughs.

Even the computing required for the legendary "Attention is all you need" paper could probably be recreated on con-/prosumer hardware in a month's time.