"The current situation bears structural similarities to three major accounting frauds: Enron (2001), WorldCom (2002), and Lucent Technologies (2000)."

https://substack.com/inbox/post/179453867

I mean sure, the markets would have momentarily tumbled. Then, focus would have shifted around a new story, and they would have stabilized. NVDA isn’t the center of the universe it thinks it is.

If you look at it critically, NVDA isn’t that far off from competitors, if the range overlaps then you can get comparable performance depending on the use case and ML framework used.

https://sanj.dev/post/amd-vs-nvidia-ai-workloads-performance...

I am unconvinced that only Nvidia knows how to make the best GPUs, but they do have a nice software ecosystem.

I think NVIDIA's success, and also risks, are less about if they make the best and more about them making 95% of the ones that are good enough.

So, in ten years (maybe five) NVDA will be like IBM or Intel. Too big to ignore, just not for the right reasons.

They were already too big to ignore a few years back.

I have no opinion about "for the right reasons".

    If we delivered a bad quarter, it is evidence there's an AI bubble. If we delivered a great quarter, we are fueling the AI bubble,

While I think the bubble pop will be spectacular, he is not wrong here. You can't do right, if others want to see bad only.