Hardware-wise though, I actually agree - Apple has dropped the ball so hard here that it's dumbfounding. They're the only TSMC customer that could realistically ship a comparable volume of chips as Nvidia, even without really impacting their smartphone business. They have hardware designers who can design GPUs from scratch, write proprietary graphics APIs and fine-tune for power efficiency. The only organizational roadblock that I can see is the executive vision, which has been pretty wishy-washy on AI for a while now. Apple wants to build a CoreML silo in a world where better products exist everywhere, it's a dead-end approach that should have died back in 2018.

Contextually it's weird too, I've seen tons of people defend Cook's relationship with Trump as "his duty to shareholders" and the like. But whenever you mention crypto mining or AI datacenter markets, people act like Apple is above selling products that people want. Future MBAs will be taught about this hubris once the shape of the total damages come into view.