I don't understand. Haven't graphics cards basically been obsolete for deep learning since the first TPUs arrived on the scene in ~2016? Lots of companies are offering TPU accelerators now, and it seems like the main thing Nvidia has going for it is momentum. But that doesn't explain this kind of valuation that's hundreds of times greater than their earnings. Personally, it seems a lot like Nvidia is to 2023 what Cisco was to 2000.