Atlassian's Q2 R&D Spend Surges to $826 Million, Shares Slide 8%

Atlassian Corp.'s Q2 results saw shares fall 8% as AI-driven selloffs weighed across the tech sector. CEO Mike Cannon-Brookes said AI has been one of the best developments for the company, despite recent market volatility. R&D spending hit $826 million, driven by heavier investment in AI initiatives and the Rovo product. Cannon-Brookes addressed concerns about AI's impact on the software sector, citing positive customer conversations and increased long-term commitments.