“And we’re pursuing the dual path of Nvidia and Dojo. But I would think of Dojo as a long shot. It’s a long shot worth taking because the payoff is potentially very high. But it’s not something that is a high probability. It’s not like a sure thing at all. It’s a high‑risk, high‑payoff program. Dojo is working, and it is doing training jobs, and we are scaling it up, and we have plans for Dojo 1.5, Dojo 2, Dojo 3, and whatnot. So I think it’s got potential, but I can’t emphasize enough: high risk, high payoff.”
https://thetranscript.net/transcript/5550/tesla-q4-2023-earn...
In other words, he admitted it’s a long shot to replace Nvidia with their own chip awhile ago. It’s interesting because Google hasn’t given up on their TPUs, but Elon being a hardware guy mostly, has.