It has nothing to do with it being China. They just figured out how to do it more efficiently and with lower powered chips, meaning nvidia’s market dominance in high end chips that they could charge whatever they wanted for just for is legs cut out from under them. If you don’t need as many to run AI, Nvidia won’t sell as many.
Stewart has been way off this entire past year. He was very vocal about initiating the way too late in the process Biden replacement on the ballot that did not go over well. I’ve lost a lot of respect for him.