When companies have more money, there are some good economic things this can do: It can make R&D possible, it can mean hiring, it can mean that the companies make big investments in new facilities and take... reasonable risks.
But there is a such thing as too much money. More money than anyone knows how to spend, but you MUST spend it or you don't get to keep it.
In light of this the boom bust cycle makes perfect sense. As does the cosplay about AI being wonderful.
