🔴 Software ETF (IGV) is trading 1.9% down in pre-market as AI spending concerns pressure software shares

IGV is trading at $106.80 (-1.86%) as software shares face pressure over concerns that massive AI infrastructure spending may not deliver sufficient returns.

• Meta’s higher AI spending outlook renewed those concerns, while Tesla’s reduced capital-spending forecast added to mixed megacap signals.
• Weak U.S. futures, Asian technology losses and rising oil amid Middle East tensions reinforced risk aversion; the broader market selloff was a significant driver.