Can confirm: The cloud computing fad is well underway to dying...that is why AI is booming. One need only to follow the wall street dollars to figure that one out.

Several very big profile names have recently begun moving back to self-hosted, hybrid, or dedicated hosting solutions.

Cloud computing never was good in terms of value, however, it was only good in terms of scalability. AI solutions built on top of 'the cloud' will always be even worse.

Note that I pay a certain "third tier" cloud provider less than $100/mo total for hosting large websites that would cost me more than 10 grand a month on AWS/Azure/Google...while having better uptime. (the biggest differences? the complete lack of IO and bandwidth charges, and much lower storage charges)

That should tell you all you need about these types of bubbles, but then again, most of us that watched the entire tech field unfold since the pre-internet phase already knew this.