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AI poses existential threat to software, fund manager warns
4 Articles
4 Articles
Debt-financed takeovers of software companies have long been popular with financial investors. Falling valuations therefore impact on the portfolios. But there is a glimmer of hope.
AI poses existential threat to software, fund manager warns
AI will send most software companies the way of print media in the 2000s, a top fund manager said. Software stocks have plunged in recent weeks following the release of AI tools that promise to automate tasks like writing documents and managing payrolls. Nick Evans, a Polar Capital fund manager, whose global tech fund beat 99% of peers in the last year, told Bloomberg that apart from infrastructure and cybersecurity, few software sectors will su…
Selling software shares before the rest of the market worked for Nick Evans, manager at Polar Capital. His warning to those looking for bargains: most titles remain toxic and few companies will survive. Read more
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