By Lance TupperFeb 12 (Reuters) - Shares of trucking and logistics companies sank on Thursday, the latest industry to be sideswiped by worries that quickly advancing AI technology will lead to increased competition for established firms that rely on software for their services. The steep drop in logistics shares follows a recent selloff in software stocks, with investors worried in both cases that future AI products could unleash steep competition for established businesses and eviscerate their profit margins. Those fears stand in contrast to optimism about AI technology that has helped drive Wall Street to record highs in recent years. Algorhythm's stock surged about 30%, lifting its stock market value to about $6 million. It sold that business to Stingray Music in August and changed its name to Algorhythm Holdings from The Singing Machine Company.

Source: Mint February 13, 2026 03:44 UTC