If you follow the money though much of this future “demand” is on fulling orders from the AI labs and at the moment the AI labs don’t have the cash to pay that bill. A rather important detail in this whole mix.

So either the labs need to start printing money, now, or there’s going to be a whole bunch of excess chips hitting the market in 2027-28.

Someone in the middle is going to get left taking delivery of all these chips but unable to collect payment for them. And someone else is going to get left holding the bag on data center loans to house those chips. That’s the storm ahead.