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For mobile users it initiates on pointer down. So “moderate” and “conservative” settings are effectively the same for mobile at present. So the feature will still work for mobile users, but with less of a lead time.
There’s also a balance to be had here. Mobile users more often have stricter bandwidth limitations and higher costs for that bandwidth so the fact that speculations happen less is perhaps no bad thing. On the other hand, mobile users are often the ones that would benefit more from performance gains!
We (the Chrome team) are investigating other heuristics to be able to further enhance this for mobile users.