According to CNBC, investors are shifting toward free cash flow-focused funds as AI spending pressures cash flow at major technology companies and bond markets absorb a growing wave of AI-related debt. The VictoryShares Free Cash Flow ETF (VFLO) has taken in more than $900 million in net inflows over the past month, bringing assets to $11 billion, while the Pacer US Cash Cows 100 ETF (COWZ) saw $24 million in inflows and the Amplify COWS Covered Call ETF (HCOW) drew about $804,000 through Sept. 25. The article also said AI data center construction spending has risen by $51 billion since December 2023, while private construction spending on everything else has fallen by $120 billion. Other quality ETFs, including the $48 billion iShares MSCI USA Quality Factor ETF (QUAL), the $9 billion JPMorgan U.S. Quality Factor ETF (JQUA) and the $3.2 billion WisdomTree U.S. Quality Growth Fund (QGRW), have also attracted fresh money, while the iShares MSCI USA Momentum Factor ETF (MTUM) has lost about $5 billion over the past month.