Oracle’s Larry Ellison downplays fears of a software apocalypse: “We believe the SaaSpocalypse applies to others, but not to us.”

Oracle executives downplayed fears that AI could spell the demise of software-as-a-service companies.

Oracle Chief Executive Larry Ellison said during the company’s earnings call Tuesday that he believes the so-called Saaspocalypse will be a problem for other companies, but not his.

“We now have these coding tools that allow us to build and implement a comprehensive set of agent-based software to automate an entire ecosystem such as healthcare or financial services,” Ellison said. “That’s what we do at Oracle. That’s why we think we’re a disruptor. That’s why we think the Saaspocalypse applies to others, but not to us.”

Fears that AI will replace traditional software tools have been particularly strong over the past month Anthropic has released new agent AI toolsThat sparked a selloff in software stocks including Salesforce and Asana.

Oracle CEO Mike Sicilia also said on the call that he disagreed with the idea of…