The "SaaSpocalypse" seemed to be over.
But over the last two weeks:
$NOW went from $139 to $102
$CRM went from $211 to $165
$PLTR went from $163 to $127
$ADBE went from $274 to $204
The market is once again questioning whether AI will replace enterprise software.
The CEO of
$NOW explained it perfectly:
"The market thinks maybe I can do everything with a language model and build the software myself. But that's not gonna happen. Why would companies rebuild software like
$NOW and pay 10x more?"
Building software with LLMs is possible.
Replacing mission-critical software used by thousands of enterprises is a completely different challenge.
Custom-built solutions are more expensive, harder to maintain, and create additional complexity.
Meanwhile, companies like
$NOW and
$CRM are integrating AI directly into their platforms.
AI isn't replacing enterprise software.
It's becoming another feature inside it.