🔴 DRAM is trading 3.5% down today as Alphabet and Tesla earnings spark AI spending concerns

DRAM is trading 3.5% lower in pre-market trading as disappointing AI-related earnings from Alphabet and Tesla raise doubts about near-term returns on massive AI infrastructure spending.

• Investors are reassessing growth expectations for HBM/DRAM demand, leading to a sharp sell-off across the broader memory-chip sector.
• The high-beta, AI-levered ETF is under significant pressure despite relatively stable index futures and a lack of major U.S. economic data releases.