I remember the HW shortage during 2020-2021, fun time.
The economics of owning your own powerful hardware make sense less and less with each passing year. Compute that's rented from the cloud gets far more utilization per dollar spent, and that's just on the hardware costs, let alone the cost of electricity to run it. What we're seeing now is the market adjusting to this new reality, as foundries reallocate capacity from consumer-oriented hardware to gear aimed at superscalers.
These times are confused because all the available solutions are suboptimal for NN inference in the consumer market.
This in itself could double or triple the demand for both memory bandwidth and compute. I honestly don't see a future where AI demand disappears...