Is it? Time will tell, but it wasn't "different" even during the crypto craze when CUDA was literally printing money. We were promised world-changing ASICs just like with Cereberas and Groq, and ended up with nothing in the end.

When AI's popularity blows over (and it will, like crypto), will the market have responded fast enough? From where I'm standing, it looks like every major manufacturer (and even the Chinese market) is trying the ASIC route again. And having watched ASICs die a very painful and unsatisfying death in the mining pools, I'd like to avoid manufacturing purpose-made ICs that are obsolete within months. I'm simply not seeing the sort of large-scale strategy that threatens Nvidia's actual demand.