Software stocks tumble Friday as investors fear OpenAI and Anthropic will erode traditional software company revenues

Software sector experienced significant losses on Friday driven by concerns that AI system builders are threatening core business models

Palantir was among the hardest-hit stocks in the selloff

Investors worry that companies like OpenAI and Anthropic will displace traditional software solutions with AI-powered alternatives

The selloff reflects growing market anxiety about AI disruption to the software industry's competitive landscape