Yep. Nvidia spent 20 years maneuvering and creating the trends and markets they are now benefiting from. Anyone saying they've just been benefiting from a boom

Yep. Nvidia spent 20 years maneuvering and creating the trends and markets they are now benefiting from. Anyone saying they've just been benefiting from a boom like it was some sort of complete externality has not been paying attention. If that was the case, ATI would still be an independent company, and Nvidia would have overextended themselves trying to chase the crypto mining market. No, it took 20 years of courting academics and iterating on technologies capable of replacing pre-CUDA "supercomputers" to get Nvidia and the AI industry to where it is today. 20 years of cajoling TSMC to take the next leap of faith on scaling processes for them. 20 years of maneuvering to avoid overextending themselves while also avoiding platforms and integrators trying to suck margin away from them. And if you look at their stock price over those 20 years, there were times when the market took a very dim view of these efforts. Times that many other CEOs would have thrown in the towel and shut down projects. Without CUDA and Nvidia silicon, I'm not convinced the AI boom would have happened any time within this decade.