As an analogy, it’s like if, when Azure and AWS really started to gain popularity, everyone went out and bought their own racks to create their own “clouds”. I

As an analogy, it’s like if, when Azure and AWS really started to gain popularity, everyone went out and bought their own racks to create their own “clouds”. I realize at that point they wouldn’t be “clouds” but that’s not the point… the point is that most people seem to assume that every company is going to want their own in-house $10,000 Nvidia GPU and that’s almost certainly not going to happen. Nvidia’s best years are behind it if you ask me. They aren’t going bankrupt, but certainly from a share price perspective, it’s downhill from here (there may be a little more bubbling, no one knows, but the current share price is unreal).