Should the whole AI thing be a bubble that'd crash and burn, I don't expect NVidia to disappear from the surface of the earth. Companies at the other side of this circular financing: I'm not so sure they'd survive.
I understand, it has a real product it can fall back on. But it's also bloated from all the debt it's taking on and if the market does tank, it's questionable how it functions. Its like someone taking steroids: sure, they got all those muscles now, but emotional disregulation is a bigger problem.
NVidia is doing great too: they're selling the picks and shovels in this AI gold rush.