NVIDIA's move is strategically important, but I would not declare the x86 moat broken yet.

The bigger story is not the PC chip itself. It is NVIDIA extending its ecosystem from AI training to AI inference, robotics, digital twins and now client PCs. The new DSX vision complements platforms such as NVIDIA Omniverse by allowing companies to simulate AI factories before deploying real hardware.

For PCs, NVIDIA faces three hurdles:

Software compatibility: x86 still dominates enterprise Windows workloads.

OEM relationships: Intel and Advanced Micro Devices have decades-long partnerships with PC makers.

Enterprise inertia: Businesses refresh PCs slowly and value compatibility over cutting-edge AI features.

However, NVIDIA's advantage is that AI PCs may shift the battleground from CPU performance to AI performance. If local AI models become a must-have feature, NVIDIA's expertise in GPUs, NPUs, CUDA and AI software could become more important than raw CPU speed.

My view:

Near term (1-3 years): Intel and AMD remain dominant in PCs.

Medium term (3-5 years): NVIDIA can become a meaningful third player if AI PCs gain traction.

Biggest loser may actually be Intel, whose PC and server franchises face pressure from both NVIDIA and AMD.

AMD is arguably better positioned because it already has strong CPU, GPU and AI accelerator offerings.

The key question is not whether NVIDIA can sell PC chips. It is whether users will pay a premium for AI-first PCs. If the answer becomes "yes", then NVIDIA's moat expands while the traditional x86 moat shrinks. If AI PCs remain a niche feature, Intel and AMD's installed base remains a formidable defence.