I disagree. Pre-AI, the cryptominers were clearly sucking up supply and driving up prices. I understand you might say "Nvidia did the same thing then" but really the issue is supply and demand. Starting with crypto, and continuing into AI, a whole new unexpected slice of huge demand for video cards morphed into existence. Supply and demand says there can be limits to production, and then the curves shift.

Would Nvidia see their lucky day and operate like any rational iffy actor? Sure. But I think it's important to be clear on the fact that demand suddenly exploded with crypto, and then kept going.

Nvidia may not be a saintly actor, but let's be sure to not ignore the laws of supply and demand. But! I feel my grasp on the matter is fairly basic, and I'm sure there are other points that may add nuance here - and highlight uncool practices by them. But there are only so many foundries; they take a lot of time to spin up (to the chagrin of every nation state); and when demand goes up, prices generally follow.