And I think we passed the threshold for crash down for AI, even if AI companies wont be that profitable. Nvidia/cloud providers will be profitable as long as there is demand for AI.
If AI companies aren't that profitable...then they're going to stop spending so much money on GPUs to train AI models. A gigantic amount of Nvidia's profits would go bust overnight.
Claude code and others are here to grow even if they don't do any further training.
The cost(and size) to train models is also increasing and is still 60% of the cards that Nvidia is selling. Losing 60% of your most profitable revenue stream I think would do bad for a company regardless of how much inference is increasing "dramatically"(all this means is the GPUs are dead sooner and the cost to do this massive inference increases too)