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SAP, and Oracle, and IBM, oh my! ‘Cloud and AI’ drive legacy software firms to record valuations
'Cloud and AI' drive legacy software firms such as Oracle, SAP, and IBM to record valuations on the stock market.
Image Credits: Ni Yanqiang, Wang Jianlong, Li Zhenyu/Zhejiang Daily Press Group/VCG via Getty ImagesThe company’s valuation has fallen around 14% since then to under $160 billion, but it remains 30% up on last year. There are many ways to slice and dice all this, but well-established software firms are ultimately better positioned to thrive when a game-changing technology such as AI comes along, owing to the fact they have a market presence and stable customer base. The company “identified a security incident that involved bad actors targeting a limited number of HubSpot customers and attempting to gain unauthorized access to their accounts” on June 22.
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