AWS CEO Garman says software AI fears are 'overblown'

Core Viewpoint - Concerns regarding the impact of artificial intelligence on the growth of major software companies may be exaggerated, according to Amazon Web Services CEO Matt Garman [1] Group 1: Market Performance - The iShares Expanded Tech-Software Sector Exchange-Traded Fund has declined by 24% in 2026, marking a potential worst year since 2022 due to inflation and rising interest rates affecting technology spending [2] - The downturn in software as a service (SaaS) stocks has been referred to as a "SaaS apocalypse," although software executives assert that core business metrics remain stable [2] Group 2: Company Performance - Databricks' CEO believes the current market correction is an overreaction [3] - Amazon's cloud infrastructure segment reported a revenue increase of approximately 24% to $35.6 billion in the fourth quarter, surpassing analyst expectations, with a 35% operating margin, slightly widening from the previous quarter [3]