Australian Shares Tumble, but Atlassian and REA CEOs Dismiss AI Threat
Australian Financial Review
ENRICHED
Details
- Date Published
- 6 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 9 Feb 2026, 04:45 am
Description
Worries that complex artificial intelligence tools could replicate services offered by software developers have spread to private credit and even uranium.
Summary
In a recent market downturn, Australian technology companies like Atlassian and REA have reassured investors about the potential threats posed by advanced AI tools. Despite fears that growing AI capabilities could disrupt the services of these software giants, prompting a significant drop in market value, the CEOs emphasize that AI doesn't pose an existential threat to their industries. This incident highlights the need for clearer AI safety and governance policies to mitigate investor concerns and potential financial impacts. While the article does not delve deeply into AI safety or catastrophic risks, it outlines the economic implications AI advances could trigger in established tech sectors.
Body
TechnologySoftwarePrint articleTess Bennett and Jonathan ShapiroFeb 6, 2026 – 5.17pmThe country’s largest technology companies, from Atlassian to real estate listings giant REA, have been forced to reassure investors that sophisticated artificial intelligence will not pose an existential threat to the industry, after a week of turmoil that wiped billions of dollars from the market.Worries that increasingly complex AI tools could replicate many of the services offered by software giants and consumer-facing tech businesses – leading to $8.8 billion being erased from the industry on the ASX – is already spreading to other sectors, weighing on private credit stocks and casting a pall across cryptocurrency markets and even uranium producers.Loading...Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Message Tess on Signal: @tessbennett.02. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.comJonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreSoftwareInvestingAIAtlassianREA GroupPrivate creditFetching latest articles