US software stocks slide as IBM, ServiceNow results reignite AI disruption fears By Reuters
U.S. software stocks experienced a slide in premarket trading after IBM and ServiceNow reported quarterly results that raised concerns about AI-driven disruption in the sector. IBM's revenue growth slowed due to weakness in its software business, while ServiceNow noted delays in Middle East deals. Despite both companies exceeding analyst expectations for revenue and profit, investors remain wary of how AI advancements, particularly new automation tools, could impact traditional software businesses.
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