According to Bank of America, the narrative that “GenAI will kill Software” has taken hold over the past six months, triggering around a 30% EV/EBITDA derating across global software names.
Shares of Nvidia (NASDAQ:NVDA) fall 2.8% as investors rotated out of AI and semiconductor leaders, with significant losses among Big Tech for Microsoft (NASDAQ:MSFT) (-2.9%), and both Alphabet (NASDAQ ...
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