“Often” is load bearing. I don’t think markets are more likely than not to be musical chair shaped. To make this conversation more concrete, give me a falsifiable prediction on there existing a bubble. And then I’ll tell you if I believe in it or not.
The price of inference is going to go so low that OpenAI and Anthropic will not be able to turn a profit, thus cannot afford the investment into more data centers, thus crash due to investment in the space having been overdone
