#美国科技基金净流 According to recent market dynamics, U.S. technology funds have shown a significant trend of capital outflows. As of the week ending February 4, 2026, technology sector funds experienced a weekly withdrawal of $2.34 billion, primarily due to increased market concerns over the AI bubble and the accelerated reduction by hedge funds. During the same period, hedge funds recorded a historic reduction in software stocks, with their total net holdings falling to 2.6%, and the long-short ratio reaching an all-time low. Moreover, data from December 2025 indicates 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 amount since the beginning of the year. Capital flows indicate that defensive sectors (such as healthcare) and alternative assets like government bonds are absorbing some of the outflowing funds. Despite short-term pressures, institutions like Goldman Sachs still believe that the fundamentals of technology stocks are strong and the long-term growth logic remains unchanged, but caution is advised regarding valuation correction risks.