Comment by loudmax

I think you're right that demand for inference is likely to grow by orders of magnitude in the medium term, but I don't know that Nvidia's lead over their competitors is likely to remain as strong as it is today. That is, they'll probably hold their dominant position, especially for training, but I'd expect their lead on inference to shrink by a lot. Companies pretty much understand how to make inference engines. Expect AMD, Intel, Qualcomm, Apple and others to come out with products geared at fast and efficient inference. Not to mention Grok and other dedicated chips.