Investing in the future

In terms of inventory buildup vs. revenue, Nvidia has been the most successful in reducing costs, while Intel has been the least successful. However, when looking at R&D investment, Intel is investing the most in the future, while Nvidia has cut back. Intel’s R&D expenditure in Q1’23 exceeded $4 billion. The big three (AMD, Intel, and Nvidia) have collectively invested $7.2 billion in R&D in Q1’23, demonstrating a commitment to the industry. There is a risk that focusing more on data centers than consumer clients may lead to short-term vision failure, as seen with previous events like crypto and Covid.