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BiyaPay Analyst: Wall Street Shorts Software Stocks, Profits $24 Billion, Huang Renxun Rebuts "AI Replacing Software" Theory
BlockBeats News, February 5th, this year Wall Street hedge funds have made a profit of $24 billion by shorting software stocks, mainly targeting automated service companies that are easily replaced by AI. The software industry's market value has evaporated by $1 trillion, with tech giants like Microsoft and Oracle seeing a stock price drop of over 15%. Meanwhile, NVIDIA CEO Jensen Huang publicly refuted the notion that "AI will replace software," emphasizing that AI will work in concert with existing software tools rather than replacing them.
BiyaPay analysts pointed out that despite concerns over AI's advancement disrupting traditional software models, the cryptocurrency and digital asset market still hold strong investment potential. BiyaPay offers a variety of financial products, including USDT trading for Bitcoin, other cryptocurrencies, US stocks, Hong Kong stocks, etc., supporting users in cross-border transactions, real-time remittances, digital asset storage, and asset management. BiyaPay's comprehensive services help users navigate market fluctuations flexibly, achieve wealth growth, and manage risks.
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