Popular investor Cathie Wood sold shares of software company Unity Software (U). Wood’s investment machine, Ark Invest (ARKK), shed over 486,000 shares of Unity’s stock, most likely to reduce exposure to the software industry. Additionally, Ark Invest has expanded its exposure to crypto-linked platforms, fintech, and gene editing.
The software industry is facing growing concerns about artificial intelligence (AI) replacing software use. The market faced renewed concerns after AI firm Anthropic released new tools for its Claude “Cowork” AI agent. The market has reacted strongly, fearing an AI “apocalypse” that undercuts traditional software business models.
