近日，全球软件类股票持续出现大幅抛售。周二已出现明显下跌，周三抛售情绪进一步蔓延至亚太地区。印度NIFTY IT指数下跌6.3%，代表性企业 Infosys股价重挫7.3%；香港金蝶国际软件集团股价暴跌超过13%；日本Recruit Holdings和野村综合研究所股价分别下跌9%和8%。 引发这一轮恐慌的直接导火索，是AI公司Anthropic上周发布的聊天机器人更新。市场担忧AI能力的快速提升将严重冲击数据分析、专业服务以及传统软 件工具行业，导致大量商业模式和岗位面临颠覆风险。 黄仁勋进一步强调，担心软件行业的工具正在衰落并将被AI取代的想法是严重误判。"AI将继续依赖现有的软件，而不是从头重建基础工具。认为AI会让 软件公司变得无关紧要的观点是错误的，时间会证明一切。" 作为AI芯片领域的领军人物，黄仁勋的表态被视为对软件股阵营的强力支持。他的观点表明，AI发展并非要彻底颠覆既有生态，而是会建立在成熟软件 工具之上，推动整个科技产业升级。市场是否就此止跌，仍需观察后续动态，但黄仁勋的发言无疑为当前恐慌情绪提供了一个理性视角。 面对市场情绪，黄仁勋明确反驳了"AI将消灭软件工具"的说法。他指出，无论是人 ...

受AI可能颠覆SaaS的情绪影响，全球资本市场正在剧烈震荡。 2月3日，在美国人工智能初创企业Anthropic发布一款面向企业法务的插件后，一些被面临AI替代风险的SaaS公司股票遭到抛售。 2月4日收盘，港股SaaS概念股中，金蝶国际下跌12.64%，金山软件下跌5.14%，汇量科技下跌5.88%、中国软件国际下跌6.72%，阜博集团下跌5.16%，它们 为目前5家市值超百亿港元的SaaS概念股。 据统计，周二追踪软件、金融数据和交易所股票的两项标普类股指数市值周二合计蒸发了约3000亿美元。 2月4日，这种恐慌从华尔街传导到了香港中环。2月4日收盘，Wind香港SaaS指数下跌6.39%，板块总市值共蒸发近150亿港元。 去年，市场还在为AI赋能SaaS的潜力感到兴奋，但这种情绪在短时间内转为焦虑与担忧：AI是否会颠覆或是直接取代SaaS乃至软件行业。 2月4日，有科技界人士向记者分析称，市场反应可能过度恐慌。SaaS对比AI仍在中小企业市场有着低门槛的优势，预计未来SaaS市场会开始分化。 全球SaaS概念股全线受挫 事实上，本轮软件概念股的抛售从1月14日左右就已开始。Wind数据显示，自1月14日 ...

Core Viewpoint - The global capital markets are experiencing significant turbulence due to fears that AI may disrupt the SaaS industry, leading to a sell-off in SaaS stocks following the release of an AI tool by Anthropic aimed at legal services [1][5]. Market Impact - On February 3, the combined market value of two S&P indices tracking software and financial data stocks dropped by approximately $300 billion [1]. - The Hong Kong SaaS index fell by 6.39% on February 4, resulting in a total market value loss of nearly HKD 150 billion [1]. - Major SaaS stocks in Hong Kong, such as Kingdee International and Kingsoft, saw declines of 12.64% and 5.14%, respectively [3][4]. Stock Performance - The performance of major SaaS stocks on February 4 included: - Kingdee International: -12.64% - Kingsoft: -5.14% - Huya Technology: -5.88% - China Software International: -6.72% - Fubo Group: -5.16% [3][4]. - In the U.S., SaaS stocks also faced declines, with the Wind U.S. SaaS index dropping by 4.12% on February 3, including significant losses from Microsoft (-2.87%) and Salesforce (-6.84%) [4][8]. Market Sentiment - The term "SaaSpocalypse" has emerged among traders to describe the current market sentiment regarding SaaS stocks [5]. - Concerns were exacerbated by a question raised at an investor forum about whether "software is dead," further fueling market anxiety [5]. SaaS Business Model Challenges - The SaaS model, which typically involves subscription-based revenue, is facing challenges as AI tools may offer more personalized solutions, potentially undermining the traditional SaaS value proposition [10][11]. - The market is expected to differentiate between traditional SaaS providers and those that integrate AI capabilities, with the latter likely to gain a competitive edge [11][12]. Future Outlook - Deloitte predicts that the SaaS business model may evolve, with a shift towards hybrid pricing models based on usage and outcomes rather than solely on subscriptions [12]. - Gartner forecasts that by 2030, at least 40% of enterprise SaaS spending will transition to usage-based or outcome-based pricing models [12].

Core Viewpoint - The global capital market is experiencing significant turbulence due to fears that AI may disrupt the SaaS industry, leading to a sharp sell-off in SaaS stocks following the release of an AI plugin by Anthropic [1][5]. Group 1: Market Reaction - On February 3, the combined market value of two S&P indices tracking software and financial data stocks dropped by approximately $300 billion [1]. - The panic spread from Wall Street to Hong Kong, with the Wind Hong Kong SaaS index falling by 6.39% on February 4, resulting in a total market value loss of nearly HKD 15 billion [1]. - Major SaaS stocks in Hong Kong, such as Kingdee International and Kingsoft, saw declines of 12.64% and 5.14%, respectively [3][4]. Group 2: Impact on Other Sectors - The decline in the software sector negatively affected the entire Hang Seng Tech Index, which fell by 1.84%, with notable drops in Tencent (down 3.96%) and Alibaba (down 0.93%) [3]. - The A-share SaaS index also experienced a decline of 2.61%, with companies like Deepin Technology and Yonyou Network seeing significant losses [3]. Group 3: AI's Role and Market Sentiment - The sell-off was triggered by Anthropic's announcement of an AI tool capable of automating various legal tasks, raising concerns about the future of SaaS [5][6]. - The market's reaction may be overly panicked, as SaaS still holds advantages in the SME market due to its low entry barriers [1][10]. - The SaaS market is expected to differentiate, with traditional SaaS potentially being replaced by AI-native solutions, which could expand the market size and cover more untapped SMEs [10][11]. Group 4: Future of SaaS Business Models - Deloitte predicts that the SaaS business model may undergo a transformation, with a shift towards hybrid pricing models that combine subscription and usage-based billing [11]. - Gartner forecasts that by 2030, at least 40% of enterprise SaaS spending will transition to usage-based or outcome-based pricing models [11].

AI开发商Anthropic最新发布的AI法律插件，引发了华尔街的"末日抛售"，隔夜美股追踪软件、金融数据和交易所股票的两只标普类股指数市值合计蒸发 约3000亿美元。 对此，英伟达CEO黄仁勋紧急回应了此事。 黄仁勋驳斥了人工智能将取代软件工具的担忧 2月4日，黄仁勋驳斥了"人工智能将取代软件及相关工具"的担忧，称这种想法"毫无逻辑"。 这轮抛售部分源于AI开发商Anthropic上周发布的更新版聊天机器人，引发市场对AI将冲击数据行业与专业服务行业、带来颠覆性影响的恐慌。周三，抛 售进一步扩大，波及印度、日本和A股的软件股。 黄仁勋在思科系统于旧金山举办的一场人工智能大会上表示，担心AI会让软件公司变得不重要是误判。AI将继续依赖现有软件，而不是从零开始重建基 础工具。 黄仁勋说："有人认为软件行业的工具正在衰退，会被AI取代……这是世界上最不合逻辑的事情，时间会证明一切。" 他还补充道："如果你是人类或机器人——你会使用工具，还是重新发明工具？答案显然是使用工具……这就是为什么AI最近的突破都在'工具使用'上， 因为这些工具被设计得很明确。" 人工智能新工具引发交易员"末日抛售" 昨日美股，AI公司An ...

| TRANSFE | 大股東/華事/最高行政人員名 作出披露的 買入 / 賣出或涉及8 每股的平均價 | | | | 持有權益的股份數目 佔已發行的 有關事件的日期 在 | | --- | --- | --- | --- | --- | --- | | | 版 7 5 = | | | (語參閱 一球 * 許 | 有投票權股(日/月/年) | | | | | | | 分自分 上 | | CS20260204E00258 | JPMorgan Chase & Co. HKD 13.1392 | 1001(L) | 4,737,975(L) | 178.210.094(L) | 5.02(L)30/01/2026 | | | | 1403(S) | 4,655,792(S) | 68.087.284(S) | 1.91(S) | | | | | | 46,122,916(P) | 1.29(P) | | 股份代號: | 00268 | | --- | --- | | 上市法國名稱: | 金蝶國際軟件集團有限 | | 日期 (日 / 月 / 年): | 04/01/2026 - 04/02/20 | 格隆汇2月4日 ...

Core Viewpoint - Nvidia CEO Jensen Huang dismissed concerns that AI will replace software tools, stating that such fears are illogical and that AI will continue to rely on existing software rather than reinventing foundational tools [2][4]. Group 1: Market Reaction - The release of a new AI automation tool by Anthropic led to a significant market sell-off, with software, financial services, and asset management sectors collectively losing approximately $300 billion in market value [1][2]. - A basket of U.S. software stocks fell by 6%, marking the largest single-day decline since April of the previous year, while the financial services index plummeted nearly 7% [3][12]. - The Indian IT exporter index dropped nearly 6%, following the global trend in software stock declines [12][14]. Group 2: Analyst Insights - Analysts indicated that the current environment for software companies is one of presumption of guilt, where positive earnings are insufficient to reassure the market unless companies can convincingly demonstrate that AI will be a sustainable growth driver rather than a long-term drag [4][15]. - Concerns were raised about the "seat-based" pricing model, where software vendors charge per user, as AI tools may reduce the number of logins or users needed, potentially undermining this revenue model [4][15]. - The introduction of new AI tools, such as Anthropic's latest legal tool, could exacerbate investor concerns regarding the software sector [4][15]. Group 3: Stock Performance - Thomson Reuters saw a stock price decline of 15.67%, closing at $91.95, with a significant drop in trading volume [5][6]. - LegalZoom's stock fell by 19.68%, closing at $7.33, reflecting broader market fears [8][9]. - Other companies providing legal tools or research databases, such as Thomson Reuters and LegalZoom, experienced stock declines exceeding 12% [4][15].

恒生指数收涨0.05%，恒生科技指数跌1.84%。煤炭股大涨，兖矿能源涨逾10%，中煤能源涨逾8%，中 国神华涨逾5%。科网股多数走低，金蝶国际跌逾12%，携程集团跌逾6%。（AI生成） ...

盘面上，大型科技股多数走低，腾讯控股跌近4%，哔哩哔哩、网易跌超3%，百度集团跌近3%，小米集团、美团跌超1%；苹果概念股走弱，丘钛科技、 富智康集团、高伟电子跌超4%，瑞声科技跌超3%，舜宇光学科技跌超1%；半导体股多数下跌，上海复旦跌超5%，华虹半导体跌超4%，中芯国际跌超 2%；应用软件股下挫，金蝶国际跌超12%。 【导读】港股涨跌不一，应用软件股大跌！香港财政司司长陈茂波最新发声 2月4日，港股震荡，三大指数走势分化。 截至收盘，恒生指数涨0.05%，报26847.32点；恒生科技指数跌1.84%，报5366.44点；恒生国企指数跌0.05%，报9048.38点。 锂电池股齐涨，宁德时代（300750）涨超4%；煤炭股上扬，兖矿能源（600188）涨超10%，中煤能源（601898）涨超8%，中国神华（601088）、首钢资 源涨超5%。 | 名称 | 现价 | 涨跌幅 | | --- | --- | --- | | 腾讯控股 | 558.000 | -3.96% | | 0700.HK | | | | 阿里巴巴-W | 159.500 | -0.93% | | 9988.HK | | | | 小米集 ...

黄仁勋表示： 在思科系统公司于旧金山举办的一个人工智能会议上，黄仁勋表示，人工智能系统的设计初衷是与现有 软件工具协同工作，而不是完全取代它们。 他直言，担心"人工智能会让软件公司变得不那么重要"的想法是错误的，人工智能将继续依赖现有的软 件，而不是从头开始重建基本工具。 "有一种观点认为，软件行业中的工具正在衰落，将被人工智能取代……这是世界上最不合 逻辑的事情，时间会证明一切。" 美东时间周二，在全球软件股遭受大幅抛售之际，英伟达CEO黄仁勋公开发言，驳斥了"人工智能可能 取代软件及相关工具"的担忧，称这种想法"不合逻辑"。 黄仁勋：AI不会替代软件 上周，人工智能开发商Anthropic发布了升级版聊天机器人，加剧了人们对人工智能可能颠覆软件公司 传统商业模式的担忧。本周三，抛售潮进一步蔓延，印度，到日本和中国香港市场上的软件股也受到冲 击。 本文来自微信公众号"智通财经AI daily"，作者：刘蕊，36氪经授权发布。 "如果你是人类或机器人，是人造的、通用的机器人，你会使用工具还是重新发明工具？答 案显然是使用工具……这就是为什么人工智能的最新突破都与工具使用有关，因为工具的设 计是明确的。" 黄仁 ...