US software stocks stabilise after bruising selloff on AI disruption fears

Software and data services stocks stabilized on Thursday after a bruising selloff, as investors looked ‍for clues on whether fast-advancing artificial ​intelligence tools are starting to dent demand for traditional software and subscription businesses.

ServiceNow ⁠gained 0.7%, Salesforce added 0.1%, while Microsoft dipped 0.8% in premarket trading after sharp falls earlier this week. The S&P 500 software and services index has shed more than $800 billion in market value over the past six sessions.