00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Benchmark General Partner Bill Gurley said the artificial intelligence wave is real,
00:06but expects a market reset after rapid wealth creation drew more investors into the space.
00:12Gurley told CNBC's Money Movers that rapid wealth creation attracts more investors,
00:17which leads to market bubbles. He said investors should set target prices and buy beaten down
00:21software-as-a-service stocks when the reset occurs and start gobbling them up.
00:25Software stocks have been hit hard amid AI disruption, with Salesforce and ServiceNow each
00:31down about 25% in 2026 and the sector-tracking IGV ETF down about 20%. The venture capitalist also
00:39warned about high cash burn at AI firms like Anthropic and OpenAI. Benchmark invested early
00:44in Uber, and Gurley played a key role in the 2017 exit of CEO Travis Kalanick.
00:50For all things money, visit Benzinga.com.
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