It doesn't have to be a full replacement. Meta for example is already running both. Interesting how they state [1]: "This announcement is one step in our ambit

It doesn't have to be a full replacement. Meta for example is already running both. Interesting how they state [1]: "This announcement is one step in our ambitious infrastructure roadmap. By the end of 2024, we’re aiming to continue to grow our infrastructure build-out that will include 350,000 NVIDIA H100 GPUs as part of a portfolio that will feature compute power equivalent to nearly 600,000 H100s." 350k NVDA GPUs, but the compute power of 600k. See here for how quickly their silicon is advancing [2]. No one is saying NVDA will go away. But the stock is priced for near perfect growth projections. NVDA's second biggest customer like Meta cutting back even just a bit will hit NVDA's bottom line. That's the stock risk. [1] https://engineering.fb.com/2024/03/12/data-center-engineering/building-metas-genai-infrastructure/ https://engineering.fb.com/2024/03/12/data-center-engineerin... [2] https://ai.meta.com/blog/next-generation-meta-training-inference-accelerator-AI-MTIA/ https://ai.meta.com/blog/next-generation-meta-training-infer...