Would you categorize as a blue chip?
Regardless, they just posted results from last year and their chip making division lost $7B last year and is on set to lose more this year.
What do you think about this? A worthwhile investment in to the future or a waste of money?
I think so, they have solid fundamentals, they won't be going away soon. You're right that they're losing market share to big cloud providers that are making their own chips like gravitons though. Also apple has completely transitioned off of them too I believe. They do need to come up with some solution to this soon though.