AI replacement fears pressure software, funds could rotate into sector, Steve Grasso notes

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Olga Shendetskaya

19.05.2026

AI replacement fears pressure software, funds could rotate into sector, Steve Grasso notes — AI fears drive software selloff, semis rally

Steve Grasso, director of institutional sales at Grasso Global, states that concerns about artificial intelligence replacing traditional software have led to a sell-off in software stocks, while boosting a rally in semiconductor shares.

He suggests the next move could involve funds rotating profits from semiconductors into oversold software names to seek outperformance. Grasso comments that market movements often overshoot and that similar cycles tend to repeat.

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Grasso previously highlighted notable gains as INFQ rose over 9 percent and IONQ climbed more than 7 percent during recent market volatility. He also detailed a 133 percent return on RVMD call options as the stock advanced 11 percent. These observations come as investors continue to track rotation across sectors.

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