The NVIDIA Blog post frames software as the critical lever for inference economics, a claim that, if accurate, could have significant second-order effects. It suggests that pure hardware commoditization may be slower than some anticipate, as tightly integrated software stacks create substantial lock-in and performance advantages. In our view, the real competition is shifting from who has the fastest chip to who can deliver the most efficient, end-to-end system for specific workloads. This could pressure other hardware vendors and cloud providers to either build comparable full-stack offerings or cede the high-performance inference market to NVIDIA's ecosystem.