Tech leaders push back against software sell-off
Stocks are sliding for a third day as Wall Street's fears about AI-driven disruption have pushed a sell-off of software names following the release of Anthropic's new industry-specific plug-in. Recent AI advancements have undermined some investors' faith in established software companies.
Nvidia CEO Jensen Huang said software is a tool for AI to use, not replace, calling the idea that the tool industry is in decline 'the most illogical thing in the world' and naming ServiceNow, SAP, Cadence, and Synopsis as bright spots.