BiyaPay analyst: Wall Street profited $24 billion from short software stocks; Jensen Huang refutes the "AI will replace software" theory.
TL;DR
Wall Street hedge funds made $24 billion shorting software stocks, fearing AI replacement, while Nvidia's CEO argues AI will complement, not replace, software. BiyaPay highlights investment potential in crypto and digital assets amid market shifts.
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On February 5th, Wall Street hedge funds had already profited $24 billion this year by short software stocks, primarily targeting automation service companies that are easily replaced by AI. The software industry's market capitalization has evaporated by $1 trillion, with giants like Microsoft and Oracle seeing their stock prices fall by more than 15%. Meanwhile, Nvidia CEO Jensen Huang publicly refuted the view that "AI will replace software," emphasizing that AI will work in conjunction with existing software tools, rather than replacing them.
BiyaPay analysts point out that despite concerns about traditional software models arising from advancements in AI, the cryptocurrency and digital asset market still possesses strong investment potential. BiyaPay offers a diverse range of financial products, including USDT trading of Bitcoin, other cryptocurrencies, US stocks, and Hong Kong stocks, supporting users in cross-border transactions, real-time remittances, digital currency storage, and asset management. BiyaPay's comprehensive services help users flexibly navigate market volatility and achieve wealth growth and risk management.