Xero share price ends lower as AI disruption fears keep ASX tech under pressure
Xero shares closed down 0.4% at A$81.76 Friday after plunging 16% midweek, their steepest drop since 2013. The selloff followed fresh AI launches from Anthropic and investor concerns over software pricing power. Xero said over two million subscribers use its AI tools and expects Melio to reach breakeven in H2 FY28. WiseTech Global fell 4.7% as software stocks faced continued pressure.