📉 Wall Street is heavily selling off software stocks due to concerns that AI will disrupt traditional business models.



ServiceNow, despite reporting good results, plunged -12%, SAP fell -14% after cloud backlog growth was lower than expected, and Microsoft dropped -10% due to slowing cloud growth.

This indicates that businesses are delaying signing long-term software contracts because AI can directly automate many processes. As a result, the entire software industry is in a bear market, reflecting concerns about long-term structural changes in the industry under the increasingly powerful impact of AI.
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