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This further confirms to me that the motivation is all economic.

The AI developers are afraid of getting into an arms race over AI development where no one wins, because they keep doing massive spend to try and beat each other in model capabilities. If everyone was forced to slow down, they can avoid this outcome.

NVidia on the other hand, is the beneficiary of the arms race, being the arms dealer, so to speak. So they don't want the race to slow donw.