Retail investors buy software dip, shrug off AI fears

Retail investors bought the dip in software stocks, data shows, shrugging off mounting market worries that advances in artificial intelligence could disrupt companies' business models

According to Vanda Research, net retail inflows in the iShares Expanded Tech-Software Sector IGV.Z ETF neared $14 million on Tuesday, the second highest reading in over a year

During Tuesday's selloff, Thomson Reuters TRI.N, the parent company of Reuters News, saw net retail buys of $2.2 mln and RELX REL.L of nearly $0.6 mln, both more than one-year highs. Both stocks were at the centre of Tuesday's software rout

By 1520 GMT, IGV - whose top holdings include Microsoft MSFT.O, Palantir PLTR.O, Oracle ORCL.N, Salesforce CRM.N and Adobe ADBE.O - was down 3.1%, after Tuesday's 4.6% slide. Thomson Reuters was 0.6% lower and RELX was down 1.4%