I don't know if Nvidia is eager to re-enter the SoC market. It wouldn't be a clear path to more money, since they would need to then handle modem, wifi, ISP, display, etc... instead of just CPU & GPU. And they'd need to work with Android & its HALs. And all the dozens/hundreds of device OEMs.
They could, but that's more than just an easy money grab. Something Nvidia would already be familiar with from Tegra.
What seems more likely/risky would be nvidia starts charging a premium for a Mali replacement, or begins sandbagging Mali on the lower end of things. But Qualcomm already has Adreno to defend against that.
