Following a brutal first-quarter software selloff, also dubbed SaaSpocalypse, where the market painted software stocks as clear AI losers, the narrative has drastically shifted.
A recent analysis by Futurum Equities deconstructs this turnaround. According to experts Shay Boloor, Sam Badawi, and Logical Thesis, 95% of SaaS isn’t entirely dead, but it will fundamentally transform into the backend “AI plumbing” powering new enterprise workflows.
The Interface Disappears, But The Work Remains
The market panic stemmed from fears that large language models would replace enterprise software. However, the analysts argue that while human interfaces may vanish, the underlying work—querying data, checking permissions, and running workloads—will actually multiply.
“95% of software will become the plumbing layer of the neogentic AI stack,” warns Boloor.
