If you were supplying huge amounts and often specified products on contract, you can make a lot of money. DeepSeek just made a lot of the quantity and specifics much less and much more generalised.

I have a good amount of confidence they will do what they did in the crypto boom and pivot to small deployment as the possibility of local LLM’s becomes more popular, people will be buying and making dedicated local machines. Now they also have more competitors in this space as the chip embargo to China has caused them to roll their own and so in regards to AI processing Nividia is no longer the only kid on the block.