Jamie Dimon’s ‘cockroaches’ warning comes true as AI triggers asset manager selloff

Asset managers took a beating last week as investors worried AI could turn software company loans into defaults. The selloff came after Anthropic released new AI tools that could do what many software firms charge for. Ares Management fell 12%, Blue Owl Capital dropped 8%, KKR lost 10%, and TPG fell 7%. Apollo Global and […] source: https://www.cryptopolitan.com/ai-triggers-asset-manager-selloff/