Moore's law says nothing about density.

"The complexity for minimum component costs has increased at a rate of roughly a factor of two per year."

Density is one way in which industry has met this observation over decades. New processes (NMOS, CMOS, etc) is another. New packaging techniques (flip chip, BGA, etc). New substrates. There's no limit to process innovation.

Nvidia's also optimizing their designs for things other than minimum component cost. I.e. higher clock speeds, lower temperatures, lower power consumption, etc. It may seem like I'm picking a nit here, but such compromises are fundamental to the cost efficiency Moore was referencing.

All data I've seen, once fully considered, indicates that Moore's law is healthy and thriving.