Strategist Warns AI Trade Could Unwind by 2027, Triggering Worst Selloff Since 2008

The significance here is the funding channel, not the AI thesis itself: if hyperscalers have genuinely exhausted free cash flow while debt costs climb, the marginal data-centre buildout shifts from self-funding to credit-dependent, which changes who bears the risk. That matters most for the listed hyperscalers and their lenders, and by extension for the crypto/RWA names that have leaned on the same AI-adjacent capital narrative. The open question is whether the strategist's 2027 base case is treated as a timing call to fade or as a warning the market starts discounting earlier.