Investors are wary of AI-driven competition disrupting software revenue streams, a sentiment underscored by Intuit’s claim to be insulated from such risks. Salesforce’s valuation has come under scrutiny as AI adoption accelerates across enterprise platforms. Salesforce shares have declined 25% in 2026, underperforming the S&P 500’s 2.1% drop and trailing the IGV software ETF’s 20% slump. Other cloud platforms like ServiceNow have also fallen 25% YTD, highlighting sector-wide selling pressure.