Despite the sustained boom in AI investment since ChatGPT's 2022 launch, signs have emerged of a cooling market. Startups face funding scrutiny, and enterprise AI projects experience slowdowns, with rising costs of computing power cited as a barrier. Industry analysts debate whether this downturn signals an impending 'AI winter'—a phase of disillusionment seen in past AI hype cycles—or a temporary reset. Leading AI companies continue to invest aggressively, but cautious sentiment is growing among customers and investors regarding the returns on AI expenditures.