I think that's oversimplifying things. The acquired podcast has covered Nvidia's different growth periods in depth. I highly recommend anyone interested to give them a listen:

https://www.acquired.fm/episodes/nvidia-the-gpu-company-1993...

https://www.acquired.fm/episodes/nvidia-the-machine-learning...

https://www.acquired.fm/episodes/nvidia-the-dawn-of-the-ai-e...