The Crypto to AI transition was brutal. Just as demand for GPUs was coming down because people were starting to use ASICs to mine Bitcoin, along comes AI to drive up non-gaming demand again.

The only good news is that eventually when the AI bubble pops there will be massive R&D and manufacturing geared towards producing GPUs. Unless something else comes along… But really, I can’t see that happening because the AI bubble is so immense and is such an enormous part of the entire world’s economy.