Does anyone here still believe in #1 though?

I mean, AI is a nice development. But the hype started by ChatGPT doesn't really carry over to all aspects of the industry as much as it's said to. It's really good at some things, and really sucks at some others even though it pretends to do them. It's "Gold" for the things it's good at. It's a bubble waiting to burst for the others.

PS: I wouldn't consider intel obsolete. Imagine they stopped making their CPUs and chipsets tomorrow. Society would be really really screwed. Sure there's AMD but they can't handle all that. They're managing things more traditionally, sure. But they're also in a much more settled market.