Nvidia and TSMC are making insane profits, but that just means there's a demand for specialized compute. Like with the crypto bubble, their success is unrelated to the quality of the final AI product sold to the consumer.
OpenAI is in a similar position due to their SaaS model. It's all about pumping the hype and getting other businesses to build AI products on their platform. Not getting good results? Must be your poor prompt engineering!
The real slaughter is going to be in the AI startups, and the companies trying to pivot to AI in an attempt to stay relevant. The general public is already starting to get tired of the whole AI hype, and we haven't seen anyone provide genuinely groundbreaking products yet. All of it is somewhere on a spectrum of "kinda neat, I guess" to "dystopian hellscape".
Unless we see someone come out with a truly innovative must-have product, this hype is probably going to end sooner rather than later.