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The number that moved the tape Thursday was 18.
Workday shares jumped nearly 18% after Reuters reported that Silver Lake is in acquisition talks with the human-resources and financial-management software company, pushing its market value above $51 billion.
The case for a broader software rerating is real. The risk is that one deal in progress is not the same as one deal done.
The sector has been under pressure all year from fears that AI tools capable of generating code and building applications will erode demand for traditional software services.
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