alt Hacker NewsNvidia and AMD do not fall in "easy to predict". Half, or more, of Nvidia's demand base is like, what, 5 hyperscalers? Which themselves are driven by OpenAI and Anthropic? It's not a sustainable market. Meanwhile Apple's business and demand are very easy to predict, with near constant moderate growth. Apple is also much more sensitive to margins than the hyperscalers, which is why Nvidia can get away with 75% margin.
That would be a fine argument for why Nvidia or AMD shouldn't build DRAM fabs to supply 100% of their present-day demand. What's the argument supposed to be for why they shouldn't build any at all? Build enough to satisfy 25% of their current demand and they would still need all of that even if the demand crashed by 75%.