Global software stocks sell off in panic! Huang Renxun refutes the theory of AI replacing software, calling it "illogical".

Notice that, following a severe sell-off of global software stocks on Tuesday, NVIDIA Corporation (NVDA.US) CEO Jensen Huang refuted concerns that artificial intelligence would replace software and related tools, calling this idea "illogical". This sell-off was partly triggered by AI developer Anthropic's release of Siasun Robot & Automation updates last week, exacerbating market fears of disruption in the AI-driven data and professional services industries. The selling pressure further expanded on Wednesday, affecting software stocks in India, Japan, and China. Speaking at an artificial intelligence conference hosted by Cisco Systems, Inc. in San Francisco, Jensen Huang stated that the idea of AI diminishing the importance of software companies is misleading. He believes that AI will continue to rely on existing software rather than rebuilding foundational tools from scratch. Huang said, "There's a view that software tools in the software industry are declining and will be replaced by AI... That's the most illogical thing in the world, time will tell everything." "If you're human or Siasun Robot & Automation, whether it's artificial or general Siasun Robot & Automation, are you going to use a tool or are you going to reinvent the tool? The answer is obvious, you're going to use the tool... That's why the latest breakthroughs in AI are about the use of tools, as tools are designed to clearly have an impact." Affected by the global decline in software stocks, Indian IT exporter stocks plummeted 6.3% on Wednesday. Tech services company Infosys was one of the companies hit hardest, dropping 7.3%. In Japan, HR agency Recruit Holdings and Nomura Research both saw significant decreases of 9% and 8%, respectively.