If LLM scaling is the route to God in a box, there would be infinite demand for training compute. If there were infinite demand for training compute, Oracle and the various crypto pivoting neo clouds wouldn't have junk debt ratings. Elon seems to be ready to snap up any surplus GPUs, so that bubble can stay inflated for a while. But I don't expect it to get any easier for other buyers of GPUs and big metal sheds in the countryside to raise debt. Are the money people wrong about the bubble?