NVidia just has the money to overleverage themselves by buying companies in AI industry (coincidentally their own customers).

If they put all of their money in the chip business they'd have major problem once someone else makes good enough chips in volume. And Chinese are obviously going to do that very soon.

But if NVidia owns comapnies who buy chips it's winning no matter who they buy the chips from.

With what NVidia is doing, it's making the ride better for themselves and provide a soft cushion for when it ends.

The only way for NVidia to lose is for AI to fail utterly. Which is pretty impossible.