- CEO Jensen Huang called fears of AI replacing software illogical
- Global software stocks experienced a significant selloff on Tuesday
- AI developer Anthropic's chatbot update triggered industry concerns
CEO Jensen Huang dismissed fears that artificial intelligence will replace software and related tools, calling the idea "illogical", after a significant selloff in global software stocks on Tuesday. The selloff, partly sparked by AI developer Anthropic's updated chatbot release last week that heightened fears of AI-driven disruption in the data and professional services industry, broadened on Wednesday, hitting software stocks in India, Japan and China.
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