There is probably a difference here in a few different market segments. You have the AI tooling companies (foundation models, tooling frameworks, vector dbs, et

There is probably a difference here in a few different market segments. You have the AI tooling companies (foundation models, tooling frameworks, vector dbs, etcs...), AI product companies (Agents for Foo), Companies with existing business investing in AI projects, and also existing tooling/compute companies, especially the hyperscalers. The AI tooling companies could loose a lot of hype and valuation, why the hyperscalers and companies just building incremental automation using llms/agents continue, albeit with less internal investment. How much would that take down the industry? How many existing tech players have fully bet on AI? Even a company like salesforce that has pivoted their marketing to all AI probably only has a small fraction of their revenue tied to it.