AI winter.
Not likely. Take with whatever grain of salt you'd like, but that was largely a property of development being academicized and subject to things like grant cycles, research topic fashionability trends, and institutional structure. It would be wrong to assume it's some baked in thing that's guaranteed to happen independent of how development looks.
AI climate change.
Human winter.
We're past the point where there's a feasible argument that there is an AI winter coming.
The models work remarkably well for several classes of problem that seemed impossible a few years ago. They're not going away. There will still absolutely be a lot of ups and down and crazy stuff that happens in AI, but it won't be that AI almost completely stops being developed/funded for a decade or more. The biggest risk, I think, is regulatory capture; it's what Anthropic and OpenAI seem to be aiming for with their scaremongering about how capable and dangerous their models are. That'll put a damper on the industry for everyone except the companies that bribe the right people.