There's so much optimization to be made when developing the model and the hardware it runs on, most of the big players are likely to run a non-trivial percentag

There's so much optimization to be made when developing the model and the hardware it runs on, most of the big players are likely to run a non-trivial percentage of their workloads on proprietary chips eventually. If that's 5 years into the future, that looks bad for Nvidia, if it's >10 years in the future, that doesn't affect Nvidia's current stock price very much.