I think the chipmakers are pretty securely set up here, the usual cyclical issues aside. Between the stubborn resistance of the data to being compressed without significant loss, and to a lesser extent the ability to do more with more memory (we’re surely at diminishing returns for LLMs already, but diminishing doesn’t mean zero) it seems like a fairly safe guess (I am not an expert on anything) that for the next decade at least you’ll still want at least 128-256GiB of video RAM to have a comfortably “SOTA-enough” experience. Then the other side of the rectangle comes from putting that VRAM in every consumer and office-worker device. Selling everything at a big premium to a few efficiency-obsessed SaaS providers is what you do when you’re temporarily supply-constrained. Sidelining the SaaS middlemen and selling to gloriously inefficient consumers who will leave their laptops closed for most of the day is the dream. This is probably not unrelated to the fact that the country which is currently making a big strategic push into memory manufacturing is also championing open models.