OpenAI COO Says 'Be Long On Legacy Software' As It Could Benefit From AI - Salesforce (NYSE:CRM), Microso

OpenAI's Chief Operating Officer Brad Lightcap said legacy software companies could emerge as major beneficiaries of AI rather than casualties, describing it as a "contrarian opinion" amid the ongoing public software selloff. OpenAI COO Makes the Contrarian Case "If you're long AI and long startups, then it might even make sense, as a contrarian opinion, to be long legacy software, too," Lightcap said on Wednesday's episode of the Uncapped with Jack Altman podcast. Lightcap, who joined OpenAI in 2018 as Chief Financial Officer before becoming COO, said legacy companies restarting with AI have a head start -- "you've got the benefit of existing teams," legacy customer relationships, and the ability to learn faster than someone starting from scratch. Lightcap's comments follow a sharp selloff of software stocks, dubbed the software apocalypse, which began in early February after investors grew concerned over Anthropic's Claude large language model. He also noted that global software penetration is still around 1%, calling AI-driven modernization of outdated systems -- such as hospitals and power grids -- "one of the greatest gifts to the world." Photo Courtesy: Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.