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Stock impact report

Orlando Bravo says some software names hit by AI deserved a valuation cut [CNBC]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: CNBC
Bravo said many of the names hit by AI would face disruptions anyway. The investor said his firm “made a mistake” with its 2021 acquisition of Medallia and overpaid. Thoma Bravo co-founder Orlando Bravo on Tuesday said that artificial intelligence will disrupt software companies faster, and some of the hits to valuation are “very warranted.” “There are many, many software companies in the public markets that will be disrupted from AI,” he told CNBC's Leslie Picker at Thoma Bravo's investor meeting in Miami. “Those companies were going to be disrupted anyway.” Bravo did not name the companies he felt deserved lower valuations or those that were in danger of disruption. Thoma Bravo is a software-focused investment firm founded in 2008. As of December, the firm had over $183 billion in assets under management in 77 companies. Software stocks have been hit hard as AI model companies have released tools that threaten to replace those services at a much lower cost. The iShares Show less Read more
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