fromAxios
7 hours agoAI wiped out $400 billion this week - and it's only getting started
Zoom in: AI isn't just hitting software valuations, it's changing how these companies operate from the inside out. The big picture: As of this week, investors are seriously looking at AI not just as a productivity boost for software firms, but as a substitute. "AI is not just going to do something to labor ... it's going to do something to profits," Shelby McFaddin, portfolio manager of a $2.6 billion fund, tells Axios. One strategist likened it to BlackBerry: It survived, but its business model and valuation never recovered after being fully disrupted.
Artificial intelligence

































