And their local AI push (Nemotron, DGI Spark, RTX Spark, Huggingface, ...) is all done to diversify before the crash.
Local AI is constantly getting better, both on server-grade hardware and on hardware regular users can actually own.
In fact, for Nvidia it's better to have a solid standing with consumer-grade local AI. If Anthropic, Google and OpenAI manage to DIY their own AI chips, then Nvidia will lose a large portion of their revenue within a day.
For now.
Nvidia has two massive problems.
That's why they have been at work with local AI for a while. They publish their own open-weights models (Nemotron) and they build comparatively cheap local AI hardware (DGX Spark, RTX Spark).
That way, when the whole AI bubble pops, they still have quite a bit of a foot in the door with customers.