The main reason is likely this:

https://www.tomshardware.com/tech-industry/semiconductors/al...

AliBaba succeeded in reducing GPU usage by 82%. On top of the improvements made by models like Deepseek, it looks like AI will be much more efficient than initially thought. As a result, there should be much less demand for GPUs compared to the ridiculous demand that was being pitched.

Note that Softbank also sold all its Nvidia shares.

Even if you reduce computing requirements for inference by 99.999% there is still enough demand to saturate all high end cards for decades.