This Is How the AI Boom Ends

The article warns that political backlash — driven by rising energy costs from data centers, widespread AI-driven layoffs, and growing public concern — is the primary risk that could end the AI boom and materially impact AI infrastructure and semiconductor stocks. It highlights Nvidia (NVDA.OQ) as the cycle leader while citing Oracle, hyperscalers (Amazon, Microsoft, Alphabet, Meta) and chip suppliers as beneficiaries now. The author forecasts that public anger will harden into bipartisan pressure by 2027, with potential election-driven regulation and legislation after the 2028 vote (possible bills by 2029), causing markets to price in regulatory risk and a rollover in AI infrastructure equities. Near-term gains are still possible, but investors should expect heightened policy risk in the medium term.