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Tech Stocks Sink After Starbucks Pivots to in-House AI to Replace Microsoft, IBM Tools
The coffee chain aims to cut $10 million in software spending as it builds alternatives to inventory, maintenance and point-of-sale systems, an internal presentation said.
Starbucks is building AI software to replace Microsoft and IBM tools, raising concerns over software demand as IBM, Salesforce and ServiceNow shares fell.
A leading chip plant manufacturer believes that the boom at AI will continue in the next few years. Starbucks wants to become independent from Microsoft and other software – and uses AI for this.