AMD was left for dead. You bet the company on a technical roadmap and won. Now everyone says the AI chip market is winner-take-all with NVIDIA. Have you been here before?
Winner-take-all is what markets look like from the opening, not the endgame.
I've heard this story before. In 2015, Intel owned 82% of the data center CPU market. Analysts called it a natural monopoly—x86 was too entrenched, the software ecosystem too deep, the manufacturing advantage too wide. They were wrong. They...