BUSINESSJul 23 · 22:14 UTCBUSINESS INSIDERStephen Council ([email protected])

OpenAI's new release turns a bad week ugly for software stocks

OpenAI's new Presence product, designed to govern AI agent usage in enterprise workflows, triggered a selloff in software stocks like Workday, Atlassian, and HubSpot. The release intensifies OpenAI's competition with established SaaS vendors, leading to significant share price declines in the sector.

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OpenAIorganizationSam AltmanpersonPresencetopicWorkdayorganizationAtlassianorganizationHubSpotorganizationIGV indextopicTD Cowenorganization

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