Fundamentally, it comes down to whether or not you think "AI/ML" can disappear tomorrow and the world would continue to run as normal.
From what I have seen, it cannot. It has become foundational the same way Internet 1.0 (eg. Email, Static HTML, Web Directories, SSL) became foundational for a significant portion of the global economy in the 1990s and 2000s.
Not only could the world run as normal without AI as we have it today, it would run better. The tech we have is a net negative, slowing things down and making things harder without providing value.
AL/ML isn't going away, but what that means for demand for various types of memory remains to be seen. LLM are clearly a commodity, and once they are "good enough" then it'll just be about price, meaning that smaller and less memory hungry models will win.
It's a bit like the Sun/etc workstation market vs PCs, and high end expensive PCs vs cheap ones. Once the cheap PCs became "good enough" then they naturally dominated.