Yeah that's interesting, I never thought of the question of "what's the ASIC for AI?".... I think the premise though bakes in certain assumptions about what AI is or isn't, that in turn relate to the "bubble" talk around the subject.

In the perspective of the economy, AI = LLM, for all intents and purposes, right now. And LLM's have certain inherent limitations to achieving the "irrationally exuberant" expectations that are being foisted on it.

Until there are systems that can actually learn things, rather than just being pretty good at predicting the "next word", there will always be limits to their application in society. Nobody's going to be OK with an AI bus driver that, 1 out of every 100 days, decides to just go GTA and mow over pedestrians.

Going back to ASICs, unlike BTC, the types of computation that _true_ AGI might need might look different from what the current generations of LLM's need... So I personally would consider any large-scale investment in "AI ASICs" to be premature.