Software Stocks Plummet Amid AI Fears: Box CEO Aaron Levie Says 'Most Exciting Moment'

Box CEO Aaron Levie calls the current moment in software history the "most exciting" but the stock is down 17% in 2023 due to investors dumping shares of companies worried about being displaced by AI agents. The WisdomTree Cloud Computing Fund has plummeted about 20% this year, with several companies faring worse, including HubSpot, Figma, and Shopify. Levie believes businesses will pay for products and services from vendors specializing in back office software rather than doing it themselves.