Software: In the AI storm

Software equities sit in the eye of the AI storm, caught at a decisive inflection point as AI reshapes the sector and investors grapple with one of the sharpest valuation resets in years.

In Episode 20 of the Barclays Brief, Raimo Lenschow, Head of North American Software Research, joins Ronnie Wexler, Global Head of Equities Distribution, to explore what’s driving the sell‑off and why the long‑term software story remains far from written.

The discussion examines the forces behind the recent repricing, from the arrival of real, market‑ready GenAI products to intensifying concerns around hyperscaler CapEx, overbuild risk and shifting competitive dynamics. While headlines point to sweeping disruption, Raimo argues that AI is not ending software — it’s redefining the stack and reshaping where value accrues.

At the centre of the episode is a simple but critical question: as AI accelerates change across software, what genuinely matters — and what’s being overstated?

Raimo and Ronnie also discuss what could shape the sector’s next phase, from how valuations may stabilise to the long, often underappreciated migration timelines that anchor enterprise technology decisions.

Listen in for a grounded perspective on where fear may be overstated, where selectivity matters most, and how investors can think about durability and opportunity as AI continues to reshape the software landscape

Listeners can hear more on this topic:

Clients can read more on Barclays Live:

Important Content Disclosures

Important non-Research Content Disclosures

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(46)

Nuclear fusion: Tomorrow's solution to today's problem

Nuclear fusion has long been viewed as a transformational energy breakthrough, capable of delivering abundant, zero-carbon at operation energy by recreating the same reaction that powers the sun. Rece...

18 Aug 12min

Japan: Why the world is watching

Little more than a week ago, a rare, coordinated US-Japan intervention to support the yen caught investors’ attention. Coupled with rising expectations of another Bank of Japan (BoJ) rate hike and Pri...

11 Aug 10min

US equities: Beyond the pullback

After a spring sell-off and renewed summer weakness in technology stocks, uncertainty has remained a defining feature of the investment landscape. During the market sell-off following the start of the...

4 Aug 10min

AI credit supply tests market capacity

The AI buildout is fuelling a wave of new credit supply, and the sheer volume of debt is starting to test the market's capacity to absorb it. Year-to-date, the AI ecosystem has accounted for roughly 2...

28 Jul 9min

Challenging market consensus

Markets can become crowded around consensus views. In this episode of the Barclays Brief, Patrick Coffey is joined by Brian Kuritzky from our Rates Sales team to explore potential investor complacency...

21 Jul 9min

Cooling the AI buildout

Power constraints have dominated the conversation around AI infrastructure, but the buildout is facing a broader convergence of execution risks. Cooling, water use, permitting, labour shortages and gr...

14 Jul 8min

Opportunities in Asian Equities

Investor positioning across Asian equities is shifting, with opportunities increasingly driven by market-specific factors rather than a single regional or thematic narrative.In this episode of Barclay...

7 Jul 9min

Brexit, Burnham and Britain's Next Decade

Ten years after the Brexit referendum, many studies assess the effects on the UK economy as negative, pointing to weaker growth, lower investment and a tighter fiscal backdrop as its legacy. But the f...

30 Jun 10min