This is just not dot com bubble. Its not like someone built x20 datacenter capacity than humanity needs or x10 chip manufacturing capacity or x5 power grid output.

So far capacity barely grown because its super slow to build, but prices skyrocketed x5 to x100.

If its blownup everyone will just return to selling hardware or capacity at 20% margin instead of 2000%.

Only major labs will collapse because they have nothing but models and losses. People working for them still gonna find a job just with $10,000 bunus instead of $1,000,000.