Insights

AI-Related Sell-Off in Software: Framing Investor Concerns and Underwriting Implications

The Author
Morgan Stanley North America Private Credit
AI-Related Sell-Off in Software: Framing Investor Concerns and Underwriting Implications

The software industry has undergone a dramatic reset—erasing nearly $2 trillion in public equity value—as investors grapple with the implications of AI. But is this a true disruption or a misreading of where value will ultimately accrue?