Increasingly it looks like it will end with a bubble bursting. LLMs and AI will survive, like the internet survived the dotcom bubble. But OpenAI and Anthropic could just be today's AOL and Yahoo.
I used to think of a bubble too.
However, I think actually that while it won't give the results expected (AI agents run the company, build all features, etc.), it will nevertheless become a developer tool like IDEs, something "you have to have".
It's here to stay but probably with more realistic expectations than some CEO/CTO are pushing for (agents for everything, nobody writes 1 LOC, self healing systems, etc).
So the market expectations will be probably resized, but these tools are here to stay. Be it for cybersecurity (from CVEs to cyber warfare) alone, that's already worth all the money they are throwing a it.
I hope it will also crash hardware pricing so it becomes economically feasible to run your own local model. Currently I don’t like where we are heading with the sabotaging models because its “too dangerous”