Remember the internet .com bubble? During the bubble companies hired programmers with reckless abandon in a futile attempt to get ahead of the curve. When the bubble popped they found they had over-invested in programmers and had to freeze hiring and lay them off. That lasted for a year or so.
Now we are in the AI bubble. That it _is_ a bubble is evident by the "stupid money" being paid as recruiting bonuses to AI "experts". (e.g. Meta agreed to pay a 24 year old "expert" $250M)
The effect of this bubble is a hiring freeze for programmers. Executives hope/fear that AI will allow them to lay off lots of programmers so they don't dare hire any right now.
When this bubble pops (and it will, probably within a year or so) these companies will find that they are _under_-invested in programmers and will have to start hiring them with reckless abandon.
History repeats itself; but sometime in the mirror.