🔴 Software ETF (IGV) is trading 4.2% down in after-hours trading on AI spending concerns

IGV is trading at $107.24, down -4.17% in after-hours trading as AI spending concerns weigh on software-sector sentiment.

• Alphabet reported Q3 EPS of $2.12, below the cited $3.00 estimate; quarterly capex was $51.4 billion, and negative free cash flow added to AI-expansion cost concerns.
• Microsoft posted strong cloud growth, but cloud gross margin fell to 66% amid AI infrastructure spending, sharpening focus on costs and returns.
• Investors were also de-risking ahead of ServiceNow earnings.