The tech industry has had an insatiable appetite for Nvidia’s chips over the last two years. But the feast may be over sooner than many had expected.

The chief executive of Nvidia, Jensen Huang, has taken advantage of popular loopholes in the federal estate and gift taxes, which have quietly been eviscerated.

© Photo Illustration by Blake Cale; Photographs by Philip Cheung; Haiyun Jiang; Carly Zavala; all for The New York Times; Jim Wilson/The New York Times

Amazon, Advanced Micro Devices and several start-ups are beginning to offer credible alternatives to Nvidia’s chips, especially for a phase of A.I. development known as “inferencing.”

© Spencer Lowell for The New York Times