Software stocks came under pressure this week after Anthropic said its new security tools can scan for software vulnerabilities.
Dan Ives, managing director at Wedbush Securities, said on Friday that technology stocks battered by months of artificial intelligence-driven disruption may be nearing a turning point.
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In a post on X platform, Ives pointed to a recent product showcase by AI startup Anthropic as a potential “bottoming process” in the software trade.
Ives said Anthropic’s Enterprise Agent event earlier this week, which highlighted its Claude AI model, could signal that the worst of the so-called software “Armageddon” trade is fading.
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