but (a) there is no small fish in ai, it's either software layer of 5 techbros over existing models, or giant internet companies, who, aside from oracle and maybe nvidia are not that exposed. (b) plus gobbling up data centers of gpus, which are on the 5-10 year amortization schedule and massive ongoing spending via electricity is a little different proposition from snatching 50% priced homes, which would exist for 50 years and don't require that much maintenance. basically the firesale has to be at 90% discount, not 40% to make any sense, and would be done if anything either by dod or gulf tyrants (who won't have money cause oil should also crash at crisis)