It's a bit of a leading indicator - their current revenue is from infrastructure being built by big tech making 'foundation models', there is a lot riding on:

It's a bit of a leading indicator - their current revenue is from infrastructure being built by big tech making 'foundation models', there is a lot riding on: * transformer architecture can continue to scale to become good enough and fast enough for real use-cases * useful real-life applications (or even operating systems) will be built on this infrastructure * alignment, data governance, privacy, or hallucination issues are solvable (or at least mitigatable). * supportive regulatory environment, limited legal liability for users. * China won't take advantage of the current geo-political clusterfuck to move on its ambitions for Taiwan. I'm sure there is more, basically there is a lot that needs to happen or not happen for Nvidia to continue to be the perceived winner here.