It's already technically possible to run huge models locally when you don't have the RAM/VRAM needed - llama.cpp can 'mmap' the model from disk.

Of course an nvidia 4090 has a memory bandwidth of a 1000 GB per second; a CPU like the i7-13700K has a memory bandwidth of 90 GB per second; and a high-end NVMe SSD might only have read bandwidth of 10 GB per second.

So in approximate terms, an LLM and quantisation level that can produce 10 tokens per second on a 4090 will produce 1 token per second from RAM and a token every 10 seconds from SSD.