At that point even if the AI bubble bursts you have a solid business as a RAM scalper
What is the instrinsic value of one of millions of GPUs, if the world only needs 15-20% of them?
That's the meaning of intrinsic calor - the device can do what it can do, regardless of market conditions. Today it has the value of fifty teraflops, and tomorrow it still does, unless it breaks. However, intrinsic value cannot be measured in dollars.
I'm sure that farmers during the Great Depression were also consoling themselves with the "intrisinsic caloric value" of their corn.
GPUs would have taken the world by storm already in the roughly 30 years since they've been around.
Even for GenAI it's likely ASICs take over at some point if we really care about performance.
If you put a 75% discount on these powerful GPUs there will be a long line of non-AI-company purchasers.
Yes, lots of companies will buy them for cheap, but these AI beasts also have OpEx costs. Not every alternative use is worth the money and there are 0 guarantees that the alternative costs cover the gap. NVIDIA sell 80% of GPUs for AI now.
I think people don't realize just how big this bubble is.
There are also intrinsic costs, mostly power consumption.