Money is flowing into U.S. Treasuries, a safe-haven asset, as technology shares wobble on concerns about an AI bubble, the Financial Times reported on Friday.

The report said U.S. Treasury prices this week posted their biggest weekly rise of the year.

The benchmark 10-year U.S. Treasury yield, which serves as a global bond market reference, was 5.13 percent on Oct. 16, down 0.12 percentage points over a week. Bond yields fall when prices rise. The decline in yields shows investors have piled into Treasuries.

The Financial Times said semiconductor stocks fell as doubts grew this week about whether the AI boom can continue, prompting investors to seek safety in Treasuries.

The selloff in technology shares continued. The Nasdaq 100 index fell 1.6 percent in early afternoon trading in New York on Oct. 16, bringing its weekly decline to 4.6 percent. Micron shares fell 3.8 percent, while CoreWeave, whose corporate bond prices also fell sharply, slid more than 10 percent.

European government bond yields also declined. The UK 10-year yield fell to 5.38 percent from the 5.5 percent range in early October, while the Italian 10-year yield dropped to 4.48 percent from close to 4.75 percent.

Mohit Kumar of Jefferies said, "Investor concerns about the AI cycle and position unwinds drove this move."