The Teaser Period: Why the AI Boom Is Hitting a Reset Wall
AI compute commitments as 2/28 ARM resets: when the obligations come due.
Financial questions around the AI boom.
Groundbreaker’s argument, drawn straight from 2008: trillions in AI compute commitments come due in 2027–2028, structured like the two-year teaser rates on subprime 2/28 ARMs. During the teaser period everything looks fine — borrowers pay, bonds coupon, spreads stay tight — but the aggregate reset schedule is contractual and dated, and when it’s charted you get the reset wall. The piece walks through the mechanics of who is committed to what, when payments step up, and how the AI boom breaks if revenue doesn’t arrive before the resets.
Source: https://www.groundbrkr.com/p/the-teaser-period-why-the-ai-boom