Find all bounded sequences $(a_n)_{n=1}^\infty$ of natural numbers such that for all $n \ge 3$, \[ a_n = \frac{a_{n-1} + a_{n-2}}{\gcd(a_{n-1}, a_{n-2})}. \]
1. **Lemma 1:** If for any \( i \), \(\gcd(a_{i - 1}, a_i) = 1\), then \((a_n)_{n=1}^\infty\) is unbounded.

   **Proof:** We use the properties of Fibonacci sequences and their generalizations. Suppose \(\gcd(a_{i - 1}, a_i) = 1\). Then, we can express \(a_{i + k}\) in terms of \(a_i\) and \(a_{i - 1}\) using the Fibonacci sequence properties:
   \[
   a_{i + k} = F_{k + 1}a_i + F_ka_{i - 1}
   \]
   where \(F_k\) is the \(k\)-th Fibonacci number. Since \(\gcd(a_{i + k}, a_{i + k - 1}) = 1\), the sequence grows without bound because the Fibonacci numbers grow exponentially. Therefore, \((a_n)_{n=1}^\infty\) is unbounded. \(\blacksquare\)

2. From Lemma 1, we conclude that \(\gcd(a_{n - 1}, a_{n - 2}) \ge 2\) for all \(n \ge 3\). This implies:
   \[
   a_n \le \frac{a_{n - 1} + a_{n - 2}}{2} \quad (1)
   \]

3. **Lemma 2:** Let \(M = \max(a_1, a_2)\). Then \(a_i < M\) for all \(i \ge 4\) unless \(a_1 = a_2 = 2\).

   **Proof:** 
   - First, suppose \(a_1 \ne a_2\). Then:
     \[
     a_3 \le \frac{a_1 + a_2}{2} < \max(a_1, a_2)
     \]
     and \(a_3 \ne a_2\). Next:
     \[
     a_4 \le \frac{a_3 + a_2}{2} < \max(a_3, a_2) < M
     \]
     Hence, the statement holds for \(i = 3, 4\). For \(i > 4\), induction using (1) quickly gives the conclusion.
   - Otherwise, if \(a_1 = a_2 = M \ne 2\), then:
     \[
     a_3 = \frac{M + M}{M} = 2
     \]
     We can then apply the argument of the first paragraph of this lemma. \(\blacksquare\)

4. **Lemma 3:** If there is an \(i\) for which \(a_{i - 1} = a_i = 2\), then \(a_i = 2\) for all \(i\).

   **Proof:** 
   - If \(a_{i - 1} = a_i = 2\), then for \(i \ge 3\):
     \[
     a_i = \frac{a_{i - 1} + a_{i - 2}}{\gcd(a_{i - 1}, a_{i - 2})} = \frac{2 + a_{i - 2}}{\gcd(2, a_{i - 2})}
     \]
     Since \(\gcd(a_{i - 2}, 2) \ge 2\) by Lemma 1, it must be exactly 2. Thus:
     \[
     2 = \frac{a_{i - 2} + 2}{2} \implies a_{i - 2} = 2
     \]
     By induction, all previous terms must also be 2. \(\blacksquare\)

5. Thus, the only possible sequence is the one in which \(a_i = 2\) for all \(i\).

The final answer is \(\boxed{a_i = 2 \text{ for all } i}\).