Sage accelerates AI expansion as revenue grows Tech Sage said it is accelerating the roll-out of AI across its product lines on Wednesday as it reported another quarter of double-digit revenue growth, fuelled by a boost in demand for its cloud accounting software. The FTSE 100 software company said revenue rose 11 per cent to £2.06bn in the nine months to 30 June, [...]
‘Ugly moment’ for software stocks as IBM suffers biggest one-day slump in decades Tech IBM shares are poised to suffer one of their worst-ever trading days after the tech giant warned customers were diverting spending away from software and into AI infrastructure. The warning wiped more than $50bn (£37bn) from IBM’s market value, sending the stock down more than 20 per cent and putting it on course for its [...]
Apple eyes blacklisted Chinese supplier to ease chip shortage Tech Apple has reportedly lobbied the Trump administration for permission to buy memory chips from a Chinese manufacturer blacklisted by the Pentagon, as the AI boom continues to squeeze global semiconductor supplies. The iPhone maker has approached US officials seeking reassurance over sourcing memory chips from ChangXin Memory Technologies (CXMT), according to the Financial Times, after [...]
As it happened: FTSE 100 scrapes into green after Segro’s surge; Oil at pre-war levels after Trump snaps at industry June 24, 2026 Welcome back to the City AM liveblog. European markets were a mixed bag on Wednesday after a bruising sell-off had investors across the globe dumping their equity exposure. In Europe, the FTSE 100 closed down just shy of 0.1 per cent on Tuesday, undershooting the bigger losses seen on Germany’s Dax at one per cent, [...]
Salesforce tries to prove AI won’t kill software after brutal sector sell-off May 28, 2026 Salesforce beat Wall Street expectations on Wednesday evening, but the results did little to soothe investor fears that AI could reshape, and potentially undermine, the software industry. The Slack owner reported quarterly revenue of $11.1bn (£8.2bn) during the quarter, up 13 per cent from last year and ahead of analyst expectations, while earnings per share [...]
Salesforce earnings set to test AI sell-off fears May 27, 2026 Salesforce will report earnings after the bell on Wednesday, with investors watching closely to see whether the software giant can shake off the AI-driven sell-off that has hammered the sector since February. The Slack owner has lost around a third of its value this year, badly underperforming both the Nasdaq and wider software sector, as [...]
Anthropic’s new AI legal tool wipes billions off European data stocks February 3, 2026 Shares in Europe’s biggest data, publishing and legal software groups slumped after AI giant Anthropic unveiled a new tool aimed directly at in-house lawyers. The move rattled investors who had long viewed the sector as an AI winner. In London, Relx fell close to 11 per cent, while Pearson dropped around four per cent. London [...]
Nvidia and Apple lead losses as trillions wiped from Nasdaq tech stocks August 5, 2024 Trillions of dollars have been wiped from the Nasdaq-listed tech giants taking a nosedive amid a global stock sell off, as fears of a US recession are causing investors to run for the hills. The so-called Magnificent Seven’s combined market capitalisation has lost at least $2.3t (£1.8t), equal to a 15 per cent slide from [...]