CHAT is trading 2% down today as the broader information technology sector continues to digest a sharp Nasdaq and AI-related pullback.
- Investors remain cautious regarding the heavy capital spending required for artificial intelligence infrastructure following steep post-earnings drops in AMD and SpaceX.
- Sector rotation away from expensive AI and technology stocks is pressuring CHAT’s tech-heavy holdings as Nasdaq futures underperform.
- With no major economic data or Fed events scheduled for today, the market continues to rotate out of high-valuation tech names.