Wells Fargo upgraded Figma (FIG) and downgraded ratings of Intuit (INTU) and Clearwater Analytics (CWAN), while highlighting the 2026 outlook for software stocks.

Artificial intelligence will remain the main driver of software performance in 2026, with spending shifting toward infrastructure, large platforms and tools that enable AI development.

Investors poured $280 billion into seed through growth-stage rounds for U.S. and Canadian companies in 2025, per Crunchbase ...