If they believed they were going to continue selling AI chips at those margins they would:

- outbid Apple on new nodes

- sign commitments with TSMC to get the capacity in the pipeline

- absolutely own the process nodes they made cards on that are still selling way above retail

NVIDIA has been posting net earnings in the 60-90 range over the last few years. If you think that's going to continue? You book the fab capacity hell or high water. Apple doesn't make those margins (which is what on paper would determine who is in front for the next node).

Yes, if they wanted. They have had years to make that decision. They have enough knowledge. Their profits are measured in billions. But in order to maximize profits, that is not good because it is better to throttle supply.