"bubble" is just an oversimplification and is overused. Uber was a bubble. Video games were a bubble. Streaming services were a bubble. Self-driving was a bubble. The reality is much more complex and nuanced.

LLMs are legitimate AI for the first time, and have real use cases and have changed things across myriad industries. It's disrupting education in a big way. The google AI search thing is becoming useful. When I look at products on Amazon, I often ask it's AI review thing (Rufus?) questions and it gives me good answers, so good that I don't really validate anymore.

There's massive, intense competition, and know one can predict how it is going to go, so there probably will be things that are bubble-y that pop, sure, but it's not like AI has hit a permanent plateau and we are as far as the tech is going to go. It's just getting started, but it'll probably be a weird and bumpy path.