Mike Sicilia: Oracle co-CEO Mike Sicilia to analysts: Don’t worry, AI coding tools that harm software companies don’t apply to Oracle, but yes, they can disrupt… | – The Times of India

Oracle proved most analysts wrong when it reported strong quarterly results. The company’s third-quarter fiscal 2026 results exceeded both profit and revenue expectations. The findings help ease investor concerns that Oracle’s costly, multibillion-dollar push into AI computing may not generate profits quickly enough. During the earnings call, Oracle management discussed widespread concern that AI tools could hurt software companies. The term “SaaS apocalypse” has been trending on the financial markets and in investor circles for weeks. The term became popular after Anthropic released its Claude Cowork AI platform in late January. After its launch, nearly $300 billion in global software market value was wiped out. Shares of major SaaS companies like Salesforce, Workday, Atlassian and ServiceNow fell sharply. The big concern among investors is that AI agents could replace large parts of these companies’ businesses. The fear has led to a sudden loss of confidence in…