"Trainium accelerator" doesn't sound like it would be terribly useful outside it's current niche. It's not clear how much of the spend is that kind of thing versus general purpose compute and storage.
For the previous generation, AWS had a split where Trainium == model training and Inferentia == inference. With the current generation, they are also recommending smaller Trainium configurations for inference.
Even if nobody trains another model, the Trainium chips will be useful for inference of existing models that have been recompiled for it.
