In the short term, compute becomes an appreciating asset.

In the medium term, everyone ramps up production. Huawei and other Chinese companies work really hard to develop in-house alternatives. At some point, the hype cycle will peak and less money will flow into datacentres (yes, this will happen. It always does. Even for technologies that change society. The bubble always bursts).

The question is not if this will happen. It will happen. It's just a question of when it happens and how big the magnitude of the cycle is.