JPMorgan to investors on software stocks rout: We are now in an environment where the sector isn’t …
A sharp selloff in global stock markets wiped out about $285 billion in market value in a single day after Anthropic launched its new AI tool called the ‘SaaSpocalypse’. America’s biggest bank JPMorgan said the fall reflects a deeper shift in how investors view software companies, especially as concerns around artificial intelligence grow. In a note to investors, JPMorgan analyst Toby Ogg said investors are no longer giving software firms the benefit of the doubt. “We are now in an environment where the sector isn’t just guilty until proven innocent but is now being sentenced before trial,” Ogg said.
