Billions wiped out as software stocks sink on AI disruption fear

Sam Altman, CEO of OpenAI

Growing worries that artificial intelligence tools could soon disrupt the world’s biggest software businesses led to a sell-off across the sector yesterday.

A 30pc plunge in the shares of Monday.com grabbed investor attention in Europe, with some analysts saying the drop reflected concerns over the long-term competitive threat of AI as much as results that failed to meet higher investor expectations.

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