One of the biggest fears about AI was that it would kill tech jobs and shrink the software industry. The logic seemed straightforward. If AI made developers much more productive, tech companies would need fewer of them. That would mean fewer software subscriptions, known as “seats,” because each worker typically has their own account. Investors
OpenAI just gave software stocks a beating with its latest push into enterprise work. After the company on Wednesday unveiled a new product aimed at making AI agents more effective for customers, software stocks like Workday, Atlassian and HubSpot plunged. The product, called Presence, increases OpenAI’s competition with established software providers. As first reported by
