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Adobe jumped about 6%, while Salesforce rallied 5%.
Oracle's stock surged 11% amid a broader rebound in software and cybersecurity shares.
KEY POINTS
- Software stocks have faced heavy selloffs this year due to fears of AI disrupting business models.
- Several companies, including Atlassian, have cut employees specifically to fund AI initiatives.
- The software sector's stock decline is raising default risk concerns in the private credit market.
COMPANIES
Summarized by Newsio from CNBC. How we summarize →