AI Replacement Sentiment Drives Sharp declines in SAMSARA, APPIAN, RINGC, VEEVA, PUBM

AI replacement fears spiked after Anthropic’s Claude Opus 4.6 and OpenAI’s Frontier debuted, with autonomous agents touted to audit/patch code and bypass legacy CRMs, threatening recurring revenue from seat-based licensing and prompting a broad repricing of the software sector. The reaction was basket-like,拖累 the Magnificent Seven and the S&P 500 Information Technology index nearly 3% on February 5, 2026. RingCentral (RINGC) fell 8.5% YTD, trading at $25.24 vs a 52-week high of $35.18, a 28.3% discount, with a $1,000 investment now worth $61.99. Similar volatility was seen in Samsara (SAMS), Appian (APPI), Veeva Systems (VEEVA), and PubMatic (PUBM).