A documented timeline of the AI repricing call
Nov. 18, 2025 — Initial warning
I published the first explicit warning that U.S. tech and AI valuations were being mispriced, with risk materially understated by Wall Street.
The coming AI reckoning: why Wall St. is mispricing the largest unreported risk in modern tech https://www.revenuemodel.ai/the-coming-ai-reckoning-why-wall-st-is-mispricing-the-largest-unreported-risk-in-modern-tech/
This article laid out the core thesis: AI adoption had stalled, costs were rising, and valuations were pricing in growth that the data did not support.
Late Nov. 2025 — Media response
Following that warning, I published a response documenting how the tech media reacted, or failed to react, to the risk being flagged.
The Press is dead. That’s why I am building a new one https://www.revenuemodel.ai/journalism-is-dead-thats-why-i-am-building-a-new-one-2/
This piece explains why the repricing signal was ignored and how narrative inertia delayed coverage of real market risk.
The Motley Fool is asleep at the switch: Why there’s no press on mispricing
https://www.revenuemodel.ai/the-motley-fool-is-asleep-at-the-switch-why-theres-no-press-on-mispricing/
Dec. 5, 2025 — The bubble call
I made the call explicit. Not a slowdown. Not a pause. A peak.
We have reached Peak AI
https://www.revenuemodel.ai/we-have-reached-peak-ai/
This post stated plainly that the AI trade had topped and that valuations left no margin for error.
Between Nov. 18 and Dec. 12, 2025 — Sustained warnings
During the period between the initial warning and the market break, I published a continuous series of data-backed articles reinforcing the same conclusion from multiple angles.
AI growth flat Aug–Oct 2025
https://www.revenuemodel.ai/ai-growth-flat-aug-oct-2025/
Memory, governance and revenue remain over the rainbow for OpenAI, Google and Anthropic
https://www.revenuemodel.ai/memory-governance-and-revenue-remain-over-the-rainbow-for-open-ai-google-and-anthropic/
Seeing red: everyone down, but Google is brute force the only way to overcome troubles with AI
https://www.revenuemodel.ai/seeing-red-everyone-down-but-google-is-brute-force-the-only-way-to-overcome-problems-with-ai/
AI Pulse for week ending 12/12: what pulse? None outside of Google
https://www.revenuemodel.ai/ai-pulse-for-week-ending-12-12-what-pulse/
Wall Street ignores stark warnings from OpenAI, Nvidia, Google and Microsoft
https://www.revenuemodel.ai/wall-street-ignores-stark-warnings-from-openai-nvidia-google-and-microsoft/
Users do not trust LLMs. Just look at the data
https://www.revenuemodel.ai/users-do-not-trust-llms-just-look-at-the-data/
Each article examined a different surface area—traffic, downloads, trust, cost, governance, revenue, and capital intensity—but reached the same conclusion: the market narrative did not match observable reality.
Dec. 12, 2025 — The Wall Street Journal, 11:04 am
James Mackintosh: The eerie parallels between AI mania and the dot-com bubble
Dec. 12, 2025 — Market confirmation
On Friday, Dec. 12, 2025, AI-related and high-multiple tech stocks sold off broadly. The repricing I warned about occurred seven days after the Peak AI call.
Dec. 14, 2025 — Mainstream validation
Two days later, CNBC published analysis using the language of repricing, citing rich valuations and little room for error:
Roadcom and Costco’s rich valuations leave little room for error as battleground stocks Published Sun, Dec. 14, 2025, 3:41 PM ET