There is a huge difference between this bubble and the 2008 mortgage crash. In 2008 they made capital products out of debt. When that debt was worthless, so were the derivative products which caused a sudden cascading crash that wiped out trillions of dollars. This time, everything was paid for in cash and results in tangible assets. Even if AI suddenly became worthless, the money spent was real, the resulting goods were paid for with real money that doesn't evaporate, the goods exist and can be sold or repurposed (granted those ai chips are bespoke and expeeeeensive and worthless for literally any other application than an LLM).
So sure - its a bubble. AI is not going to magically become useful or ever really turn a profit for the companies that invested many billions. It wont replace people. It will crash. But the crash won't be a catastrophic destruction of capital. It'll be a slower realization that assets are overvalued and it will unwind over the course of years. And yes, companies will go bankrupt and people will lose their jobs. But not nearly on the same scale as 2008.