🔴 QQQI is trading 1.5% down today amid a tech selloff driven by rising AI costs and fading IPO hype

QQQI is trading 1.5% down today as its information technology-heavy portfolio tracks a sharp sector selloff across the growth complex.

• Rising AI infrastructure and memory costs, alongside price hikes from Apple and Microsoft, are pressuring tech valuations.
• Pre-market weakness in Micron and fading enthusiasm regarding a potential OpenAI IPO are further weighing on the Nasdaq and broader tech sector.