Yes. This is just the first day.
It's going to take a year or two more. Will the humanoid robots being built be useful? Will Tesla's robotaxi ever work without a huge number of remote monitors? Will the free models start to displace the expensive ones? Will someone figure out a way to do all this at lower cost? We don't know yet. But there are too many huge companies with rather inflated market caps. Some of that has to be air.
Will we still need ever-larger GPUs and Memory? Yes.
There’s no version of the immediate future where this isn’t the case.