I think there is a question of how much of that demand is real. If GPUs are sitting unused in boxes and/or if NVDA has been artificially juicing demand either through basically buying them from themselves or selling them to China through an intermediary then the 10x demand comes into question.

That leaves the real buyers who are also starting to run low on capital.

Finally, demand doesn't need to go to zero for there to be a price correction. Just dipping from insane demand to elevated levels would lead to a significant price drop.