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Story summary
- In 2026, fears surrounding artificial intelligence led to $62 billion in losses for US software executives.
- AppLovin co-founders Adam Foroughi, John Krystynak, and Andrew Karam saw net worth drop about 30%.
- Larry Ellison of Oracle lost nearly $40 billion and Jim Goodnight of SAS Institute lost about $3.3 billion.
- Hedge funds increased short bets against software stocks amid a $1 trillion market decline because analysts attribute the downturn to rising capital costs.
