I was referring to the additional year of delay between the M3 Max and M3 Ultra announcements when compared to the M1 and M2 generations.

The theory that the M3 Ultra was being produced, but diverted for internal use makes as much sense as any theory I've seen.

It makes at least as much sense as the "TSMC had difficulty producing enough defect free M3 Max chips" theory.

Gotcha. Thanks!