Orlando Bravo says some software names hit by AI deserve a valuation cut

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Orlando Bravo said AI will accelerate disruption across many software companies and that some valuation declines are "very warranted." He also said other high-quality software businesses took unjustified hits and could become big winners in the agentic era. Bravo acknowledged Thoma Bravo overestimated Medallia's growth and paid too much in that 2021 acquisition. The article notes software stocks and the IGV ETF have fallen sharply and that Thoma Bravo manages roughly $183 billion across 77 companies.

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