My general take is all of The GPU design efforts are going toward Enterprise / datacenter graphics cards. They are just skipping a generation or two of consumer.

To Nvidia the biggest threat is a capex cut from big tech not another company in the same domain, maybe some Chinese companies but people aren't going to be moving off of Nvidia for large deployments in the short term even if some TPU/Tranium etc is used it's not close to Nvidia.

I have no explanation other than people, researchers are comfortable with it and don't want to switch.

A 4% stake doesn't even make Nvidia one of the top 3 holders of Intel stock... They'd be crucified for changing strategy for a 4% stake.

Also Nvidia arguably needs Intel more than vice versa, Intel now has SOTA fabs on the newest EUV technology, TSMC is at max capacity and they need to fight Apple and others for allocation...

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