US software stocks slide as IBM, ServiceNow results reignite AI disruption fears (opens in new tab)

U.S. software stocks fell in premarket trading on Thursday, following quarterly results from IBM and ServiceNow that reignited fears about ‌AI-driven disruption across the sector. International Business Machines said its revenue growth ‌slowed in the first quarter, pressured by weakness in its software business, anchored by its Red ​Hat cloud unit. Growth in the segment slowed to 11.3%, sending the Big Blue's shares 7.4% lower.