Large cloud providers such as Amazon (AMZN), Google (GOOG), and Microsoft (MSFT) have been rapidly developing their proprietary processors and AI accelerator chips. For one, Amazon recently fired the first shot at Intel’s (INTC) x86-based instance by designing a second generation of data center processor chip, Graviton2. Whether Amazon’s deepening chip portfolio becomes a long-term threat to Intel’s CPU business remains to be seen, but the immediate revenue impact can be realistically estimated. In this post, I aim to access the near-term revenue impact of the customized