Technology leaders are pushing back against predictions that software companies will vanish into AI models. Instead, industry veterans argue that AI-enabled software is moving up the product stack, solving higher-value problems while creating more opportunities for specialized applications rather than replacing them entirely.
Microsoft shares cratered 10% despite beating Q2 earnings estimates, as Azure growth slowed to 39% and capex hit $37.5 billion amid AI infrastructure strains. Investors question returns on surging spending, wiping out $360 billion in value.
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