An aggressive AI backer who financed notable chip deals warned institutional investors that speculative third‑party data‑center builds risk a financing crisis in 2027–28. Alex Davis said too much capital is flowing to “speculative landlords” rather than owner‑users such as hyperscalers, raising the possibility of overcapacity and stranded assets. University CIOs and research computing directors should factor that risk into campus planning: commitments to colocation contracts, capital expansions, or long-term cloud reservations may be exposed if the commercial market retrenches. The letter underscores the need for campuses to stress-test procurement scenarios and prioritize flexible arrangements for AI compute to avoid being locked into unfavorable capacity contracts.