Orlando Bravo, founder of Thoma Bravo, declared the "SaaSpocalypse" over, stating AI provides a significant boost to software companies. He noted that AI now accounts for about 50% of new revenue for his firm's portfolio companies.
Intuit announced it is cutting 17% of its full-time workforce, affecting over 3,000 employees, amid broader tech layoffs driven by the AI boom. Shares fell 13% after the news. The company also reported Q3 earnings and raised its FY2026 forecast.
AI is flooding bug bounty programs with fake reports, forcing companies like Nextcloud and HackerOne to suspend them. This surge in low-quality submissions strains security teams and impacts the effectiveness of these programs, despite significant payouts in the past.
Nikesh Arora, CEO of Palo Alto Networks, reassures the tech world. He states artificial intelligence will not replace cybersecurity firms. Arora explains AI's current limitations in accuracy and enforcement. He highlights the need for specialized security software to manage complex company rules. This presents opportunities for investors amid market panic.
