Expensive as fuck to make chips, only makes sense if you believe whatever model you're creating a chip out of will not become completely irrelevant in 5-10 years.
There’s lots of use cases where the current models do fine though. A chip that can run a current cheap model at 100x would be amazing for things like detecting prohibited content on Facebook. You don’t need the 2030 equivalent of Fable for that, you need something that can cheaply process insane numbers of posts per day.
That’s not what we are empirically seeing though. There is also no way of knowing that things can’t be progressing for the next 5 years. No foundational model company would be spending the amount they are on research if they thought it wasn’t going to pan out
