[WanderPanda]

What they are highly optimized for is mixed-precision GEMM (like all other accelerator manufacturers). What distinguishes Nvidia for now (imo) is that CUDA cores are also quite good at normal code (with control flow etc). I used to think that being close to optimal in one of them would contradict being close to optimal in the other but it turns out they share a lot of resources (SRAM) and the overhead in chip surface if one or the other is laying dormant seems negligible. I'm pretty sure that AMD et al will be sufficiently successful at blatantly copying the CUDA API that we will see serious competition in the next years. The bigger source of uncertainty might actually be fabbing capacity.

I find it hard to argue that this mode supports a 1.7T valuation. I find it hard to believe that for a couple of billions + TSMC credits no one would be able to recreate the CUDA ecosystem + hardware in the medium term.