AI Winter was related to neural networks existing but computers not being fast enough to handle the amount of data needed to train them + massive datasets themselves not existing.

So far, I'd say no? New models are still being developed and getting better in very short time frames vs what folks did historically.

The finance bubble thesis is more related to: "are companies going to generate revenues to justify the massive investments being done?"

Whilst we are certainly in a hype bubble (AI's third) and there are some indications it may lead to the third AI winter, the two possible outcomes are this bubble doesn't burst, or a future bubble doesn't burst. The long term trend has always been to stronger AI and higher highs.

Of course. Right now we're in an AI Spring, but winter will come again.

Yeah, nuclear winter and that grey snow which is falling is burnt dollar bills and startups.