AI Pullback Slashes Expected S&P Growth

If Big Tech cuts AI data‑center spending back to 2022 levels, the S&P 500 would lose about 30% of the revenue growth Wall Street currently expects next year. Because AI capex is propping up GDP and multiple upstream industries (chips, power, trucking, CRE), a slowdown would cascade beyond Silicon Valley. — It links a single investment cycle to market‑wide earnings expectations and real‑economy spillovers, reframing AI risk as a macro vulnerability rather than a sector story.