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What's Behind the Software-as-a-Service Selloff?

Since ChatGPT's debut three years ago, warnings of AI-driven industry disruption have been constant. However, a combination of weak earnings, advancing models, and a new tool from Anthropic recently triggered the biggest stock selloff driven by the fear of AI displacement that markets have seen. Software-as-a-Service (SaaS) companies have been hit the hardest. Bloomberg's John Stepek and Paul J. Davies discuss the market fallout and the future outlook on Bloomberg Television. Davies is a Bloomberg Opinion columnist whose views are his own. (Source: Bloomberg)