Markets
Deutsche Bank Calls SaaSpocalypse Bottom — No Software Company Expects Negative Revenue Effect from AI in 2026
Deutsche Bank released a strategy note stating 'after asking various experts, generalists, Gemini, ChatGPT and Claude, we have still not come across a single software company that expects a negative revenue effect from AI in 2026.' The bank argues AI disruption fears have peaked and hedge funds are beginning to rotate back into software at depressed valuations. This creates a notable tension: Goldman Sachs basket at 22x forward earnings while profit estimates still project 21% growth — either the market is pricing in a disruption that hasn't shown up in revenue yet, or this is a generational buying opportunity.
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