I think he was referring to via as #3. Nvidia certainly has the ability to buy via and possibly even amd, but why would they? Nvidia dominates a very profitable niche market right now and has a great stock price and a rapidly rising market capitalization (about 8x increase since mid 04). Intel dominates a marginally profitable market but its stock has sucked for years (flat or slightly down since mid 04). The numbers look different depending on which time frame you snapshot, but the general trend for nvidia has been very strongly positive for years while intel's already has absolute market dominance already priced in. Nvidia needs to focus on their core business and perhaps slowly expand into other, related fields that can enable them to leverage their current areas of expertise. I'm certain that intel would like nothing more than to have nvidia cripple their gpu r&d by trying to take them on mano-a-mano in the cpu arena.
edit: hey, didn't theo valich used to work over at the inq??? wow, tom's has really gone downhill...