It's interesting to see here that spending is irrational, but actually even if AI improvements slow down it's more rational for companies to spend more and underutilize the machines than to underspend and get disrtupted.

On the otherhand lots of people here are even more uncomfortable of the other option, which is quite possible: AI software algorithms may scale better than the capacity of companies that make the hardware. Personally I think hardware is the harder to scale from the two and this is just the beginning.