The main reason is likely this: https://www.tomshardware.com/tech-industry/semiconductors/alibaba-says-new-pooling-system-cut-nvidia-gpu-use-by-82-percent http

The main reason is likely this: https://www.tomshardware.com/tech-industry/semiconductors/alibaba-says-new-pooling-system-cut-nvidia-gpu-use-by-82-percent https://www.tomshardware.com/tech-industry/semiconductors/al... AliBaba succeeded in reducing GPU usage by 82%. On top of the improvements made by models like Deepseek, it looks like AI will be much more efficient than initially thought. As a result, there should be much less demand for GPUs compared to the ridiculous demand that was being pitched. Note that Softbank also sold all its Nvidia shares.