> The only way they will is if the hyperscalers and AI companies start to implode

you're missing the picture that it's not companIES - the crisis primarily was caused by only one company OpenAI buying out wafers

but even more than that - that wafer buyout is *an excuse* used by cartel - there are several mechanisms that could have eased out most of the problem (e.g. Samsung selling old equipment) that was not done to ride the money wave

(also said "hyperscalers and AI companies" existed in spring 2025 too, yet the price was low)

the winners will not be the ones who build new fabs - but ones who'll have enough money and government subsidies/import taxes to protect such investments after cartel decides to oversupply again, flushing the price down