> centralized computing in clouds [could] make having hardware that's optimized for some specific workload much more tenable.

I think this is the key. GPUs are pretty much the only consumer-level specialized co-processors, and those have been selling like gang busters. Plot twist, it's the data centers that are buying them up... to the point that the manufacturers tried to prevent you from buying more than one at a time.

Of course specialized processors need to have proper networking and storage proximity to really deliver value. May be more challenging to offer a specialized service like this than you'd hope. Perhaps the big cloud vendors will dominate again, so chip manufacturers need to just hope for a few big contracts to Amazon / Microsoft / Google.