> fairly good chance someone would catch up to them in 10-20 years. I think that's the bet. Maybe someone could catch up, but what are the chances incumbents b

> fairly good chance someone would catch up to them in 10-20 years. I think that's the bet. Maybe someone could catch up, but what are the chances incumbents buy new entrants or otherwise defeat them? What's the chance regulators will get involved? If you rate those favorably for NVIDIA, you'll price it higher.