A single large pre-trained model that serves as a general-purpose base for many downstream uses.
Broad technical consensus on what this term means. Disagreements that invoke it are about the world, not the word.
Older AI built one model per task. A foundation model inverts that: one very large pre-trained model is adapted, by prompting, fine-tuning, or tool wiring, to thousands of tasks it was never specifically built for. "Frontier model" means a foundation model at the current capability edge.
The industrial structure of the field follows from this idea: a few labs spend enormously to train general-purpose bases, and an application layer builds on top. Whether value accrues to the foundation layer or the application layer is one of the Atlas's central economic questions.