---
title: "$1.1 Trillion In Cloud Backlog Vs \"Peak\" Earnings Growth: Two Goldman Veterans Draw Opposite Conclusions From AI's Worst Week"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/303840930.md"
description: "AI stocks faced a severe downturn with Alphabet, Intel, and Amazon suffering significant losses, while the broader S&P 500 remained relatively stable. Goldman Sachs veterans offered contrasting views on AI's future amidst this volatility."
datetime: "2026-10-31T23:48:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/303840930.md)
  - [en](https://longbridge.com/en/news/303840930.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/303840930.md)
generator: "portal-rs"
---

# $1.1 Trillion In Cloud Backlog Vs "Peak" Earnings Growth: Two Goldman Veterans Draw Opposite Conclusions From AI's Worst Week

Halloween came a day early for the AI trade.

Alphabet suffered the biggest drop in its history on Thursday, Intel crashed the most on record on Friday, Amazon followed with a disappointing quarter, and the Nasdaq 100 briefly slid into correction territory. And yet the S&P 500 ended the month down less than 1%, while the S&P ex-AI headed for its best month since 2022.

## "A Bit Of A Devil": The Index Did Nothing, Everything Else Did Everything

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## Related News & Research

- [Why Alphabet's stock could see its worst drop in years after the latest results](https://longbridge.com/en/news/303530212.md)
- [Google Search Revenue Growth Slows Despite 5-Year High in Queries as AI Search Struggles to Match Traditional Ads: ‘We Feel Very Good’](https://longbridge.com/en/news/303521028.md)
- [Amazon CEO sees AI spending 'meaningfully' higher in 2027](https://longbridge.com/en/news/303639910.md)
- [Google struggling to make AI Mode searches pay](https://longbridge.com/en/news/303475055.md)
- [Weak Q4 Outlook Might Change The Case For Investing In Intel Stock (INTC)](https://longbridge.com/en/news/303713977.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**