AI casts existential shadow over legacy software companies, Bridgewater CIOs warn

When Amazon began selling books online, many feared traditional bookstores such as Barnes & Noble would fade into obsolescence. Drawing ‌parallels with that episode from the 1990s, Bridgewater's co-chief investment officers said ‌similar existential threats now loom over legacy software companies as the rapid rise of artificial intelligence reshapes ​the sector. "With the latest release of Claude Code, an upstart competitor has created existential risk for major businesses, much as Amazon posed to Barnes & Noble," the client note said on Monday.