Workday Surges 30%, Software Stocks Rally on Report Silver Lake in Talks to Acquire Workday

According to media reports, private equity giant Silver Lake is in talks to acquire Workday. The news drove Workday up as much as 30%, lifting AI software stocks including Cloudflare, Palantir, and Salesforce. Workday had been a typical target of the AI-disrupting-software narrative, with its shares down 18% year-to-date as of Wednesday's close.