The AI revolution is real. But the trillion-dollar infrastructure boom supporting it is in a financial bubble approaching its peak. In his excellent October 12 Wall Street Journal column, “How the AI Boom Ends,” Andy Kessler argues that AI technology is advancing rapidly, but its economics are changing even faster. Four forces could bring the boom crashing down in 2027. 1. Small Language Models (SLMs) are coming. Smaller, increasingly capable models running locally on smartph