The "bubble" you're speaking of now is completely divorced from reality in both directions, as the doomer narrative spread across the blogosphere/news world with the recent inflection talent acquisition and the issues with stability.ai/emad.

The truth is that foundation model companies, while in the limelight now, are probably the smallest slice of the pie, with cloud providers and end user applications going to take the lion share of the profit, and GPU manufacturers in line next. Foundation model companies got hyped because every VC wanted to invest in the company that might monopolize AGI, but in reality we're going to have a landscape dominated by fine tuned open source models in a few years, with closed source models being used for certain niches but generally not worth the cost.