What's fascinating is that the next wave is going to be driven by A.I. According to Google, they designed an A.I that was able to create a more efficient chip layout in 6 hours. This very same tasks takes up to 6 months with a team of humans - https://www.theverge.com/2021/6/10/22527476/google-machine-learning-chip-design-tpu-floorplanning

In this upcoming wave, A.I is going to make the layout of the chip more efficient with every generation which could be enough to singlehandedly keep Moore's law going. If the developers decide to really get ambitious however, they could take chip improvement much further. According to intel, there are over 100 variables which drive moore's law. - https://singularityhub.com/2020/08/23/moores-law-lives-intel-says-chips-will-pack-50-times-more-transistors/

If we use A.I to optimize every single one of these variables, then in effect we will see the perfection of traditional computing at the end of wave 1 or 2. This most likely would lead to Zettaflop computers which will allow for insanely cool things such as accurate 2-week weather forecasting or simulating the entirety of the human brain.