I wouldn't be surprised to learn that Nvidia is doing exactly that on their cloud: Compressing the video on the GPU using NVENC, building a package around it and then passing it to a NIC under the same PCIe switch (mellanox used to call that peerdirect) and sending it on its way.
The tech is all there, it just requires some arcane knowledge.
The tech is all there, it just requires some arcane knowledge.