No one is going to hire more developers, that's the entire point of AI. You'll do more work and provide more value to shareholders for the same if not less pay until you're rich enough to escape the hell-cycle of capitalism or you die.
What I am speculating that we will see is an increasing demand for developers. While AI will be churning more code the work that cannot be done by AI will require more developers overall then ever before.
So if the demand for developers increases at all, that increase will be minimal. And bear in mind that every aspect of every software process will be optimized as much as possible for AI automation, including languages used, so the set of work that "cannot be done by AI" will also be minimized.
Peak coal jobs was in the 1980s but peak output was in the early 2000s, while employment went from 200k to about 75k in that period. Sure, coal might have been cheaper but it didn't translate into more jobs overall.