Did tech fundamentals suddenly get sane or did the layoff train just stop at the AI hype station?

While I do believe AI (imho shorthand for LLMs and Diffusion models) has a lot of potential, it's main function has been to reignite irrational exuberance in the tech industry.

I work in this is space and I'm very curious how long the mania can hold out, and even more curious what the consequences will be for the people seriously working on AI when it dies down.

Layoff didn't stop because a correction had finally concluded, but because investors snorted another line of hype and were happy to throw their money around again and pretend everything is fine.

The come down from this, I suspect, will be pretty rough (but hey, if I'm wrong it's great for me).