The computational complexity of AI models is growing exponentially, while the compute capability provided by hardware is growing linearly. Therefore, there is a growing gap between those two numbers, which can be seen as a supply and demand problem.
On the demand side, we have everyone wanting to train or deploy an AI model. On the supply side, we have Nvidia and a number of competitors. Currently, the supply side is seeing earnings skyrocket, and the demand side is stockpiling and vying for access to compute.