Epic massacre! The global software industry lost trillions of dollars overnight. Will AI's scythe next swing towards $BTC and $ETH?

The faith in Silicon Valley collapsed overnight. It’s not just a model—just eleven plugins caused the global software stock market to evaporate nearly $300 billion. Over the past week, this number has ballooned to nearly $1 trillion. Market observers are calling this disaster “SaaSpocalypse”—the end of Software as a Service.

The trigger was Anthropic’s new plugin feature for its collaboration tool Claude Cowork. These plugins cover core areas such as sales, finance, legal, and data, with a disruptive design logic: AI is no longer nested within software as an assistant but directly takes over and executes end-to-end business processes. This means that when Claude can autonomously read contracts and perform legal reviews, traditional legal tech software loses its value.

The market finally woke up from cold mathematics: if the underlying models can deliver results directly, then complex user interfaces and seat-based business models become worthless. Models are employees, software is a bubble.

Panic quickly spread in the capital markets. Oracle’s stock fell 4.2%, Adobe dropped 2.6%, and Salesforce declined 3.3%. In just one Tuesday, the market cap of software and data service companies lost between $285 billion and $300 billion. Since January 28, this sector has shed about $830 billion in market value.

The storm swept across the globe. European advertising giants WPP and Omnicom fell over 10%, with European stock markets losing $300 billion in market cap. UK legal information giant Relx plummeted 14.4%. Indian IT service giants face up to $300 billion in revenue risk, affecting approximately 1.6 million workers, while disruptor Anthropic has only 2,500 employees.

The essence of this shock is a dimensionality reduction in business models. Traditional SaaS relies on seat-based charges, user learning curves, and feature barriers to build a moat. The AaaS model represented by Claude Cowork shifts to output-based billing, zero user interfaces, and open APIs. An AI agent can replace ten entry-level positions, allowing companies to avoid purchasing hundreds of software seats.

Even more brutal is the second-order impact. Software companies are the largest clients of cloud service providers. When the software industry is disrupted, cloud giants are not immune. Oracle, Microsoft, and Nvidia’s stock prices are all affected. Despite giving strong revenue guidance, AMD’s stock fell due to rising data center costs eroding profit margins.

Of course, not everyone agrees with the “end of days” theory. Some analysis reports suggest that SaaS’s stable business processes, security, and integration capabilities are not easily replaced by AI, and AI may even expand the overall market. Another view is that AI is not ending the software industry itself but rather its myth of rapid growth.

However, a historic value transfer has already begun. This is not just a stock crash but a violent handover from carbon-based mental labor to silicon-based intelligence. When Google Genie caused gaming stocks to plummet, when AI video tools threaten human creators, and when GPT-5.2 begins solving mathematical problems, the economic benefits are undeniable.

Perhaps the most thought-provoking aspect is the iteration itself. Some development teams have revealed that code models can now self-construct, with humans only supervising. We have crossed that threshold: AI is not only disrupting human industries but also automating its own evolution.

Future history may record: the release of Claude Cowork and Claude Code marked the arrival of the singularity in automating mental labor. For the crypto world watching this storm, a cold question remains: when AI can swallow trillion-dollar industries, how will its ability to reshape value storage and computation paradigms define the future of $BTC and $ETH?

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