AI is transforming industries, but the data centers powering it require more energy and water than ever.

At the break, join Christoph Beck, chairman and CEO of EcoLab, for insights on using water effectively

while safeguarding this critical resource for future generations.

Welcome to Tech News Briefing. It's Tuesday, January 27th.

I'm Katie Dayton for The Wall Street Journal.

Today, after a long run as a Wall Street darling,

software stocks are no longer flying as high as they once were.

And, unsurprisingly, AI has a lot to do with it.

We find out what the future holds for the likes of Salesforce and service now.

Then, prediction market companies like Kalshi and Polymarket are using a legal loophole to allow

wagering on sports outcomes everywhere, which has them going toe to toe with more traditional

sports betting platforms.

We'll be taking a look at what this very modern heated rivalry means for the future of gambling.

But first, when artificial intelligence emerged as a force to alter the way business is done,

many thought software companies would be some of the biggest beneficiaries of the tech. But for investors, the vibe seems to have shifted. Software stocks, including Salesforce,

Adobe and Service Now, have dropped by at least 30% since the beginning of last year. Increasingly,

investors are concerned about how the sector could be upended by AI companies.

WSJ reporter Sam Goldfarb has been keeping an eye on this trend and is here to tell us what's going

on. So, Sam, in a world where every company at some point said it was a software company,

who are we talking about here? Which stocks are appearing as some of the biggest losers in this software slump?

So basically all of them, some big names are Salesforce, Adobe, ServiceNow, but really there's

like countless number of software companies both publicly traded and those that are owned

...