AI will fail because the supply chains required for the hardware are not feasible if there's more than a few wars worldwide (including internet connectivity, so no ChatGPT). To say nothing of the fact that of course governments will decide that they have absolute priority. Right now China is calmly preparing to invade Taiwan and the second the first boat leaves the shore: no more Nvidia (or AMD, or Qualcomm, or ...) chips. Zero. For years. No matter how the conflict goes. And China keeps just calmly and very publicly repeating they're going to do so.

(there, perhaps insane, but at least a more original take than "AI is a bubble", no?)