According to Wall Street Insights, citing a research report by TS Lombard Chief Macro Strategist Dario Perkins on October 22, the AI capital expenditure boom could end in early 2028, triggering a sharp market reset. The report predicts a 30% drop in the S&P 500 index, a cliff-edge plunge of 40% in tech stocks, and the evaporation of approximately $20 trillion in market capitalization. The report suggests that current AI profits primarily rely on an internal "capex cycle" and debt financing rather than genuine external demand, and identifies six triggers including lower-than-expected revenue and rising credit risk. The macroeconomy is expected to enter a mild recession, with US GDP falling by about 2 percentage points and 800,000 data center-related jobs lost, but it will not escalate into a 2008-style systemic financial crisis.