The question no one seems to be answering is what would be the EOL for these newer GPUs that are being churned out of NVDIA ? What % annual capital expenditures is refresh of GPUs. Will they be perpetually replaced as NVIDIA comes up with newer architectures and the AI companies chase the proverbial lure ?

I think the key to replacing is power efficiency. If Nvidia is not able to make GPUs that are cheaper to run than previous generation theres no point for replacing previous generation. Time doesn't matter.