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The so-called software Armageddon has arrived, and it has not tiptoed in. Fears that advanced artificial intelligence (AI) models from OpenAI and Anthropic could automate vast swaths of enterprise applications have triggered an aggressive sector-wide selloff. Jefferies Financial Group (JEF) captured the mood bluntly, dubbing the moment a “SaaSapocalypse.”
The carnage shows up clearly on the scoreboard. The iShares Expanded Tech-Software Sector ETF (IGV) has fallen 21.69% year-to-date (YTD). Within that turbulence, Salesforce (CRM), the world’s #1 AI CRM, has watched its stock sink 28.38% in 2026.