To call it 'ending' though is a stretch.

That's only the title and it is only referring to the hype ending, not development of the technology:

Eighteen months later, generative AI is not transforming business. Many projects using the technology are being cancelled, such as an attempt by McDonald’s to automate drive-through ordering which went viral on TikTok after producing comical failures. Government efforts to make systems to summarise public submissions and calculate welfare entitlements have met the same fate.

If you read the article you'll find the author is not claiming we have universally reached the end of AI or its hype cycle yet:

A Gartner report published in June listed most generative AI technologies as either at the peak of inflated expectations or still going upward.

There's a whole section of the article dedicated to answering why this is the case, too. I recommended you read the article, as you seem to have misinterpreted it based on the title.