Nvidia CEO Jensen Huang dismissed fears that AI will replace software as tech stocks were rattled by new tools from Anthropic this week.

By Danilo Masoni Feb 4 (Reuters) - U.S. software stocks extended their slide on Wednesday, driven by fears of disruption caused by artificial intelligence, with some analysts warning of more volatility as investors assess whether the challenge is existential for the sector.

Hedge funds are increasing their short bets against software stocks, contributing to the brutal sell-off in the space so far this year, according to sources at two major funds on Wall Street.

Software stocks entered a bear market last week. The latest bout of selling was brought on by Anthropic's unveiling of a new plugin for its Cowork agent.

Select Wall Street analysts think shares of Datadog and Atlassian are headed much higher in the next year.

By Chibuike Oguh, Samuel Indyk and Danilo Masoni NEW YORK/LONDON, Feb 3 (Reuters) - A significant selloff among U.S. and European data analytics, professional services and software companies deepened on Tuesday,

Some of the wealthiest software executives in the US have reportedly lost a combined $62 billion this year as fears grow that artificial intelligence could gut the industry’s most profitable businesses.

After falling 26% in three months, Microsoft looks oversold.

Having skin in the game has never hurt so much, at least for some of the software industry’s wealthy founders and executives. This month’s selloff in software has shaved billions of dollars from the value of the shares held by Oracle Chairman Larry Ellison and AppLovin CEO Adam Foroughi.