Software stocks slide as Starbucks builds AI tools to replace vendor software
✦ NabkaNews BriefAuto-summarized from multiple outlets · verify with the source
Starbucks is developing ai tools to reduce its reliance on vendor software, including products from microsoft and ibm. This move has reportedly led to a decline in software stocks, with ibm's stock falling on concerns over ai-driven competition. The impact on various software companies, including microsoft, is being closely watched, with some being downgraded and others hitting 52-week lows.
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