PE is forward looking. Apple has the business model where people will continue to buy their newer phones and devices and use their paid services at the same or higher prices for the foreseeable future.

Do you think GPUs will continue to be bought at the same rate as during the ai data center buildout gold rush era, at the same ultra high up prices?

For CPUs, Moore's law lasted more than 50 years. We don't know how long it will last for GPUs. I think Nvidia will keep improving performance, lowering power consumption and reducing heat generation for many years to come.