According to recent market trends, US technology funds are experiencing significant capital outflows. As of the week ending February 4, 2026, technology sector funds withdrew $2.34 billion in a single week, mainly due to growing market concerns over an AI bubble and accelerated hedge fund divestments. During the same period, hedge funds set a record for reducing their software stock holdings, with their total net position dropping to 2.6%, and the long-short ratio hitting a historic low. Additionally, December 2025 data shows that investors withdrew $1.6 billion from technology funds in a single week due to concerns over the disruptive impact of AI technology and valuation bubbles, marking the highest weekly outflow since the beginning of the year. Capital flow analysis indicates that defensive sectors (such as healthcare) and alternative assets like government bonds are absorbing some of the outflows. Despite short-term pressure, institutions like Goldman Sachs still believe that the fundamentals of tech stocks remain strong, and the long-term growth logic remains intact, but caution is advised regarding valuation correction risks.