U.S. Software: rAImo's AI Newsletter #115: Unpacking the AI-Driven Software Explosion

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U.S. Software: rAImo's AI Newsletter #115: Unpacking the AI-Driven Software Explosion

Equity Research

U.S. Software

22 June 2026

rAImo's AI Newsletter #115:

Unpacking the AI-Driven Software

U.S. SoftwareExplosion

POSITIVE

This week, we look into the AI-led acceleration in new U.S. Software

Raimo Lenschow, CFAsoftware and app development. Data points suggest an

acceleration has already been underway, with 2026 seeing a +1raimo.lenschow@barclays.com212 526 2712

prolific step-up in activity, which will likely have implications BCI, US

for the infrastructure and broader software spaces. Sheldon McMeans

+1 212 526 1544

sheldon.mcmeans@barclays.com

This week, we take a look at the growing momentum of AI-driven coding tools on software BCI, US

development, which is leading to an explosion of newly written software and applications. A Becky Sun

motivating factor for this topic was our time at the Databricks Conference and Investor Briefing +1 212 526 0416

last week, where CEO Ali Ghodsi highlighted the company's view that the amount of software yuyao.sun@barclays.com

written over the next ~9 months could exceed all that was written before that. It was also BCI, US

highlighted that this new software and applications still need an underlying database, and

hence, this development will likely have implications for software players, particularly those

focused on the IaaS/PaaS layers. The catalyst for the acceleration in new app development is

due to the proliferation of AI coding tools, which is expected to be used by ~90% of software

engineers by 2028 (up from <14% in 2024). We are already beginning to see significant adoption

by major tech companies, with Anthropic previously noting that approximately 70-90% of the