#USTechFundFlows With stretched valuations and volatility, investors are moving away from broad U.S. technology exposure. As evidence of confidence in the long-term growth of digital and AI, selective inflows continue to be strong in tech sub-sectors like software and semiconductors. Concentration risk is being reduced as capital shifts increasingly toward international stocks and diversified ETFs. Overall ETF flows stay positive, but mega-cap tech dominance is cooling in the short term.

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