I have a hard time seeing much in the way of harming market competition for deals between companies when there's realistically such little 'moat' and seemingly less by the day.

The more pertinent question the FTC should consider is how these deals impact market available research publishing.

Here's Matt Levine's (the Bloomberg columnist) take[1].

Says wouldn't have been an issue if the companies were doing it in-house. But because of SV culture it's the startups doing the innovation that the big boys then need to support + get access to.

[1] https://www.bloomberg.com/opinion/articles/2024-01-29/financ...

What about NVidia?