‘LLM tuned GPUs’ are just GPUs. The tuning refers to the models and how they use something like CUDA or whatever. There was a GPU shortage even before LLMs properly burst onto the scene, back with crypto mining. Now, it’s possible TPUs might add a wrinkle to later demand side issues when there is a crash but that will depend on how useful TPUs actually end up being to those outside Google. But GPUs will remain useful, whether it’s for gaming, machine learning (not the AI slop variety of this, but more categorising like for self-driving cars or medical imaging etc), or for the next crypto scam. Surely you agree that powerful computing capacity, independent of AI scams, is here to stay, right?

My main point in arguing that now isn’t like 2000 is that unlike in 2000 we have actual hardware and physical assets underpinning this bubble. In 2000 the assets were literally just imaginary. Yes there is speculation now but it is underpinned by silicon that will still be worth decent money even after LLMs are exposed as a hallucinatory mirage.