By Ashley Capoot
Publication Date: 2026-06-01 13:50:00
Magouyrk talks about SaaSpocalypse and says companies that don’t use AI are at risk
Oracle stock chart for the current year.
Software stocks have sold off this year as fears grow that artificial intelligence tools will massively disrupt companies’ business models.
Magouyrk dismissed those fears, telling CNBC’s Faber that Oracle is using AI to its advantage, but companies that don’t use the technology are at great risk of disruption.
“I think there’s a risk if you don’t use technology to improve your products, right,” he said. “The good thing is that at Oracle, our customer base and existing technology are not a burden, but an asset.”
Oracle shares briefly suffered losses this year as disruptions rattled market sentiment, but have since recouped those losses and are up 26% year-to-date.
“The fact that we can use AI and then revolutionize the way we deliver those applications and then deliver them to those customers very quickly…”
