Fortitude says AI agents drive US$2 trillion SaaS selloff, pressure seat-based pricing model
Reuters2026/08/04 04:32- Fortitude Investment Partners analysis flagged a structural repricing in listed software as AI agents undermine per-seat SaaS economics.
- Late Jan to mid-March 2026 selloff erased about USD 2 trillion; IGV fell over 20%; S&P/ASX Technology Index nearly halved in six months.
- Report tied the sharpest leg to Jan. 29, 2026 agent releases; one estimate put losses at about USD 285 billion in 48 hours.
- Forward software P/E fell to 22.7x in March 2026 from 84.1x at the 2020–2022 peak; later partial rebound left the reset intact.
- Fortitude sees capital rotating toward data infrastructure, DevOps, vertical AI, regulated vertical workflows; away from headcount-linked horizontal tools.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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