Nvidea. Their share price would be a fraction of what it is without AI. Just like the last two cryptocurrency bubbles, they went all in and then acted surprised when they popped.
At the same time, they’ve lost a lot of goodwill with gamers, formerly their core audience. With the AAA industry pulling back, games might not be pushing the limits of GPU tech anymore. Microsoft still has their old core products, but Nvidia may return to it to find a wasteland.
Given the contemporary examples, they weren’t wrong to think so. Everyone was trying to make a console in the 16/32-bit era.
Some of these are better than others–I’m fond of the PC Engine–but none can be called successful. Neo Geo is somewhat of an exception because it was used as arcade hardware. Some others here are the butt of jokes. There’s also a bunch of Japanese consoles around this time that go nowhere, and are little more than fodder for retro gaming YouTube channels.
Sony took a big gamble and won.