What do you get a 1-year-old for their birthday? A smash cake? Some learning blocks? A party that’s allegedly for the kids, but really for the parents who sneakily moved their wine threshold to midafternoon? What if that 1-year-old weren’t a human child, but instead a generative A.I. chatbot that’s already consumed terabytes of information and whose parent company has set off an arms race to plug large language models into nearly every aspect of the tech industry? Would you gift it more capabilities? Increased regulation? What about a new C.E.O. who’s actually the old C.E.O. in the fastest executive reinstatement in Silicon Valley history?