Recently, NVIDIA CEO Jensen Huang redefined NVIDIA during an in-depth interview with podcast host Dwarkesh Patel, describing it as a 'converter' that transforms electrons into tokens. During the interview, Huang elaborated on NVIDIA's supply chain moat, emphasizing the establishment of deep ties with upstream suppliers through large-scale procurement commitments to ensure supply chain stability. Addressing competitive threats from specialized chips like TPUs, he pointed out that NVIDIA's accelerated computing covers far more areas than just AI, and the high programmability of the CUDA ecosystem provides it with significant advantages. Additionally, Huang explained why NVIDIA does not venture into its own cloud services, stressing that the company focuses on driving industry development by investing in and supporting the ecosystem, rather than competing directly with customers.