【AI+AMZN】Software Stocks Hit Hard Again　Amazon Reportedly Developing New AI Agents to Replace Some Departmental Functions

Amazon’s cloud computing division AWS is reportedly developing an AI Agent designed to automatically perform some functions in sales, business development, and other departments, which have previously been heavily affected by layoffs at Amazon.

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Reports have once again sparked market fears about the disruptive impact of AI. Software stocks declined. UiPath (NYSE: PATH) and HubSpot (NYSE: HUBS) fell more than 8% and 9%, respectively. Atlassian (NASDAQ: TEAM), the parent company of Trello, also dropped over 8%.

The report states that the AI Agent developed by Amazon AWS can handle some workload in cybersecurity and server networks, involving thousands of technical experts.

This year, software stocks have been severely hit, partly due to startups like Anthropic releasing new AI tools, raising concerns about the growth prospects of traditional software companies. The iShares Expanded Tech-Software Sector ETF has fallen over 20% since the end of 2024, likely marking its worst quarterly performance since 2008.

Recently, Anthropic announced that its Claude chatbot can now take control of users’ computers to perform tasks such as operating browsers and filling out spreadsheets.

Adding to market anxiety, Ares Management and Apollo Global Management are restricting redemptions from private credit funds. Investors are worried about the risks associated with loans to software companies and other firms vulnerable to AI disruption.

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