angular-cli: AOT Build Errors with "Cannot read property 'transitiveModules' of undefined"

OS

macOS Sierra

Versions

angular-cli: 1.0.0-beta.18 node: 6.7.0 os: darwin x64

Repro steps

1. Run ng new angular2-temp
2. Run cd angular2-temp
3. Run ng build --aot

The log given by the failure

wlan-196-101:angular2-temp mprahl$ ng build --aot
Could not start watchman; falling back to NodeWatcher for file system events.
Visit http://ember-cli.com/user-guide/#watchman for more info.
  0% compilingCannot read property 'transitiveModules' of undefined
TypeError: Cannot read property 'transitiveModules' of undefined
    at /Users/mprahl/git/angular2-temp/node_modules/@angular/compiler/bundles/compiler.umd.js:13042:22
    at Array.forEach (native)
    at analyzeNgModules (/Users/mprahl/git/angular2-temp/node_modules/@angular/compiler/bundles/compiler.umd.js:13041:24)
    at OfflineCompiler.compileModules (/Users/mprahl/git/angular2-temp/node_modules/@angular/compiler/bundles/compiler.umd.js:13115:20)
    at CodeGenerator.codegen (/Users/iminar/Dev/angular/modules/@angular/compiler-cli/src/codegen.ts:71:26)
    at AotPlugin._make (/Users/mprahl/git/angular2-temp/node_modules/@ngtools/webpack/src/plugin.js:186:43)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/@ngtools/webpack/src/plugin.js:151:75)
    at Compiler.applyPluginsParallel (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:156:14)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:463:8)
    at Compiler.applyPluginsAsync (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:73:70)
    at Compiler.compile (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:456:7)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:219:10)
    at Compiler.readRecords (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:367:10)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:216:9)
    at next (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:81:11)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/CachePlugin.js:34:58)
    at Compiler.applyPluginsAsync (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:85:13)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:213:8)
    at next (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:81:11)
    at Compiler.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/node/NodeEnvironmentPlugin.js:23:3)
    at Compiler.applyPluginsAsync (/Users/mprahl/git/angular2-temp/node_modules/tapable/lib/Tapable.js:85:13)
    at Compiler.run (/Users/mprahl/git/angular2-temp/node_modules/webpack/lib/Compiler.js:210:7)
    at /Users/mprahl/git/angular2-temp/node_modules/angular-cli/tasks/build-webpack.js:26:29
    at Class.run (/Users/mprahl/git/angular2-temp/node_modules/angular-cli/tasks/build-webpack.js:25:16)
    at Class.run (/Users/mprahl/git/angular2-temp/node_modules/angular-cli/commands/build.js:50:26)
    at Class.<anonymous> (/Users/mprahl/git/angular2-temp/node_modules/angular-cli/lib/models/command.js:152:17)
    at tryCatch (/Users/mprahl/git/angular2-temp/node_modules/rsvp/dist/lib/rsvp/-internal.js:215:12)
    at invokeCallback (/Users/mprahl/git/angular2-temp/node_modules/rsvp/dist/lib/rsvp/-internal.js:230:13)
    at publish (/Users/mprahl/git/angular2-temp/node_modules/rsvp/dist/lib/rsvp/-internal.js:198:7)
    at flush (/Users/mprahl/git/angular2-temp/node_modules/rsvp/dist/lib/rsvp/asap.js:85:5)
    at _combinedTickCallback (internal/process/next_tick.js:67:7)
    at process._tickCallback (internal/process/next_tick.js:98:9)