Rich Privorotsky, Goldman Sachs' Head of European Fixed Income and Equities Trading, revealed in an October 22 interview that last week saw "the largest ever tech stock sell-off" on Goldman's prime brokerage books, as the extremely crowded "long AI, short everything else" trade unwound. Privorotsky noted that the market expects AI capital expenditure to reach $1.1 trillion next year, but investors are more focused on earnings delivery. He also warned that the AI industry could face a power deficit of approximately 40-50 gigawatts next year, as well as financing challenges for highly leveraged emerging cloud service providers. These concerns have led investors to enter "de-risking mode."