Over the last few years, Nvidia has no doubt poured many millions of dollars into Project Denver and the Parker SoC. Qualcomm is surely working toward a 64-bit chip down the road, but the company has been tight-lipped about future plans. The last thing Nvidia wants is for the market leader to beat it to ARMv8 with 64-bit. Whether or not 64-bit has real utility on mobile devices running 32-bit software, getting this right could set up Tegra for undeniable success, a distinction that has so far eluded it.
Source: eTeknix