Apollo has grown bearish on technology companies vulnerable to AI, betting against the loans of companies including Internet Brands, SonicWall, and Perforce, Antoine Gara, Jill Shah, Amelia Pollard, Kate Duguid, Eric Platt, and Robert Smith of The Financial Times reports. Apollo believes AI is a threat to enterprise software companies, since the technology can automate many products for coders, customer service representatives, and workers performing certain financial tasks.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APO:
- Apollo Global Management Approves $23.5M in RSUs for Executives
- Apollo Global Management: Strategic Growth and Origination Capabilities Drive Buy Rating
- Apollo Global moves quickly growing unit out of its buyout division, FT says
- Apollo Global price target raised to $172 from $159 at Barclays
- Apollo Global exploring sale, IPO of Invited, Reuters reports