diff --git a/core/autoload/modules.el b/core/autoload/modules.el
index f7a4e529d..f3b189a64 100644
--- a/core/autoload/modules.el
+++ b/core/autoload/modules.el
@@ -208,8 +208,18 @@ This should be run whenever your `doom!' block or update your packages."
     (with-temp-file doom-package-autoload-file
       (insert ";;; -*- lexical-binding:t -*-\n"
               ";; This file is autogenerated by `doom//reload-package-autoloads', DO NOT EDIT !!\n\n")
-      ;; insert package autoloads
       (save-excursion
+        ;; Cache the important and expensive-to-initialize state here.
+        (doom-initialize-packages 'internal)
+        (prin1 `(setq load-path ',load-path
+                      auto-mode-alist ',auto-mode-alist
+                      Info-directory-list ',Info-directory-list
+                      doom-disabled-packages ',doom-disabled-packages
+                      package-activated-list ',package-activated-list)
+               (current-buffer))
+        (print! (green "✓ Cached package state"))
+
+        ;; insert package autoloads
         (dolist (spec package-alist)
           (cl-destructuring-bind (pkg desc) spec
             (unless (memq pkg doom-autoload-excluded-packages)
@@ -223,17 +233,8 @@ This should be run whenever your `doom!' block or update your packages."
                     (unless (nth 8 (syntax-ppss))
                       (replace-match "" t t)))
                   (unless (bolp) (insert "\n"))
-                  (insert ")\n"))))))
-        (print! (green "✓ Package autoloads included"))
-        ;; Cache the important and expensive-to-initialize state here.
-        (doom-initialize-packages 'internal)
-        (prin1 `(setq load-path ',load-path
-                      auto-mode-alist ',auto-mode-alist
-                      Info-directory-list ',Info-directory-list
-                      doom-disabled-packages ',doom-disabled-packages
-                      package-activated-list ',package-activated-list)
-               (current-buffer))
-        (print! (green "✓ Cached package state")))
+                  (insert ")\n")))))))
+      (print! (green "✓ Package autoloads included"))
       ;; Remove `load-path' and `auto-mode-alist' modifications (most of them,
       ;; at least); they are cached later, so all those membership checks are
       ;; unnecessary overhead.