Software and traditional information technology stocks have recovered over the last week amid a realization that fears of an "AI-pocalypse" are a bit overdone. The rally gained traction after Nvidia (NVDA) CEO Jensen Huang dismissed fears of disruption from artificial intelligence (AI) and said it is “actually an incredible time to be a software company.”
“A lot of people have said […] agentic AI is coming, therefore all of the software companies are going out of business,” said Huang at the COMPUTEX 2026 trade show in Taiwan. "I said: it’s exactly the opposite. Because there are going to be so many agents, the world is no longer limited by the number of people. Therefore, those agents are going to use more tools than ever."
