If LLMs Stall, Does Nvidia Break?

What "the end of scaling" really means for a $4T GPU monopoly

TL;DR

• LLM scaling is hitting limits, but that doesn’t necessarily imply falling compute demand.

• Most plausible post-LLM architectures still look GPU-shaped.

• Nvidia’s $4T valuation reflects a monoculture narrative: frontier LLMs —> hyperscaler capex —> Nvidia as the default accelerator supplier.

• If Ilya Sutskever and other researchers are right, that monocul…