'From Copilot to Competitor': $2 Trillion Wiped from Software Market Cap — Atlassian -35%, Salesforce -28%, Oracle the Only Winner
FinancialContent·high signal
A March 2026 FinancialContent analysis documented $2 trillion in software sector market cap destruction as AI agents shifted from assistive to competitive: Atlassian down 35%, Salesforce down 28%, Monday.com down 40%, ServiceNow volatile. Oracle is the sole major software stock in positive territory because it captures agent compute demand on cloud infrastructure rather than selling seats. The core mechanism is 'seat compression' — enterprises equipped with AI agents need dramatically fewer human licenses across every horizontal SaaS category simultaneously.