‘SaaSpocalypse' debate intensifies as software stocks swing wildly

Impact · against what's priced in

The sector is experiencing a sharp divergence where AI-native disruption is actively eroding valuations for legacy SaaS (HUBS, DDOG), while operational efficiencies and AI integration are driving recoveries for others (TEAM, TWLO). The Airtable acquisition serves as a lagging indicator of the valuation collapse for pre-AI business models, reinforcing the bear case for companies like HubSpot.

HUBS−0.90

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