Software buyout deals collapse to lowest level since pandemic after AI rout

Private equity software acquisitions fell to $50 billion in the first five months of the year, and the title says deal activity reached its lowest level since the pandemic; the post does not disclose deal count or how the AI rout is measured.

Why it matters: HKR-H/K/R pass: the FT piece has a market-stress hook, a $50bn figure, and clear valuation resonance. It stays in the 72–77 band because deal count and the AI-rout methodology are not disclosed.