🔴 Tech ETF (LYTE) is trading 4.03% down in pre-market as Alphabet’s results renew AI spending concerns

LYTE is trading at $19.55, down 4.03% in pre-market as Alphabet’s revenue and earnings miss renewed concerns over AI infrastructure spending.

• Alphabet’s $9.07 billion in negative free cash flow renewed questions about AI infrastructure spending costs and returns.
• Semiconductor weakness and a 5%+ drop in Samsung weighed on tech sentiment; Nasdaq 100 futures fell about 1.3%.
• U.S. GDP and Personal Income & Outlays are due at 8:30 a.m. EST; the move reverses LYTE’s recent rally. Pre-market volume data was unavailable.