The tech stack is converging. “Our chips business is on fire, changes the economics for AWS, and will be much larger than most think,” Amazon CEO Andy Jassy said in his annual shareholder letter this week. “Virtually all AI thus far has been done on NVIDIA chips, but a new shift has started.”

It was an unusual jab at a close partner that Amazon still heavily relies on for GPUs. But it’s another signal that Nvidia — historically a supplier to Big Tech — is in direct competition with the frontier AI labs it already supplies.

As Nvidia rolls out its secure version of OpenClaw for enterprises and a series of specialized AI models for businesses, Nvidia is climbing up the stack, while software companies are expanding downward. They aren’t always competing directly — Amazon’s AI training chips and Google TPUs aren’t exactly replacements for Nvidia’s GPUs — but it is a sign that AI has prompted each company to take as much control of each layer of the stack as it can.