In capitalism, if the demand is outstripping supply then eventually higher prices will command greater investment and the eventual return to normalcy of the supply vs demand curve. In theory it is more of the same, but how prolonged it will be will be dependent on when the AI supply/demand curve achieves normalcy.

Some of the shortages have been due to supply interruptions, like the hard drive factory getting flooded, or similarly with a DRAM factory catching on fire. I don’t know what happened after the Chia lunacy (Chia was a crypto currency that consumed vast amounts of SSD space and destroyed the SSD’s through extreme write wear) but prices did normalize after a while. I know that Chia was the final straw that got Hetzner to ban crypto mining on its hardware outright. Previously, it was forbidden on VPS’s but allowed on dedicated servers. Anyway it caused a temporary shortage of both SSD and hard drives.

Unfortunately besides chips, another huge input to this AI crap is electric power, which is coming mostly from expanding fossil fuel consumption and thus increasing planetary heating. Economists’ intersecting curves are of no help with that.

The GPU shortage may have ended but the crazy prices never really went away

Because as the crypto demand ended, the AI demand for high end gpus rose

There was some time in between actually

And prices settled a bit during those few months.