Software experiencing most exciting moment as AI fears hammer the stocks
Summary
Box CEO Aaron Levie calls this the most exciting moment in the company's 20-year history, but cloud and software stocks have tumbled as investors worry AI agents will displace incumbents. Companies including HubSpot, Figma, Atlassian, Shopify, Salesforce and ServiceNow have seen steep share declines as the market favors infrastructure and top model developers. The selloff intensified after Anthropic added new Claude Cowork capabilities and opened plugins for customization, and investors eye massive valuations and funding rounds for leading AI model makers. Executives argue AI will augment enterprise software and increase demand for specialized vendors rather than eliminate them, while some investors view the pullback as a buying opportunity. The article frames a split market narrative where traditional software providers must rapidly adopt AI to remain relevant amid shifting investor sentiment.
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