American AI if the boom is a bubble: the Karp-Zitron scenario

(Warning note: This is a brief attempt to intuit the economic big picture of AI in the immediate future, by someone who is not in America, is not employed by an AI company, and has no experience with investment, large sums of money, or the corridors of power.)A few weeks back, we had the IPO for "SpaceXAI". It epitomized a maximally expansive view for the near-term future of AI: frontier AI companies worth a trillion dollars, data centers built everywhere including outer space. (For now I am ign...