NVIDIA’s Real Moat Isn’t Hardware — It’s 4 Million Developers
Last Updated on January 26, 2026 by Editorial Team
Author(s): JP Caparas
Originally published on Towards AI.
A fact-check of the ‘NVIDIA is dying’ thesis, and what the numbers actually show
I watched Theo’s video “Why NVIDIA is dying” yesterday, and I couldn’t stop thinking about it. The core thesis felt important enough to verify. So I spent a few hours digging through earnings reports, SEC filings, and technical benchmarks to separate signal from noise.
The article discusses the debate surrounding NVIDIA’s market position amidst claims of its decline, exploring the company’s robust financial performance despite losing some market share, the growing importance of inference in AI, and NVIDIA’s substantial advantages due to its extensive ecosystem and developer community built over two decades with CUDA, which competes against emerging players like Groq and Cerebras. The narrative suggests that while NVIDIA faces challenges from these competitors and hyperscalers, it is unlikely to “die” as its foundational technologies and developer support are deeply entrenched.
Read the full blog for free on Medium.
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