There is some limit to the rebound effect because people only have so many hours in the day, but we’re nowhere near the ceiling of how much AI compute people could use.

Note how many people pay for the $200/month plans from Anthropic, OAI etc. and still hit limits because they constantly spend $8000 worth of tokens letting the agents burn and churn. It’s pretty obvious that as compute gets cheaper via hardware improvements and power buildout, usage is going to climb exponentially as people go “eh, let the agent just run on autopilot, who cares if it takes 2MM tokens to do [simple task]”.

I think for the foreseeable future we should consider the rebound effect in this sector to be in full force and not expect any decreases in power usage for a long time.