CNBC: 75 SaaS Firms Now on PitchBook's 'Fallen Unicorns' List — Double the Fintech Count

CNBC·medium signal

CNBC reports that 75 SaaS companies now appear on PitchBook's fallen-unicorns list — twice the number of fintech firms — as generative AI destabilizes the assumptions behind 2021-era software valuations. The framing 'disrupted or dead' captures pre-ChatGPT startups unable to clear Series A bars now that investors won't fund simple prompt chains or feature-wrapper businesses. Read alongside this week's fresh AI-native CRM raises and the software-vs-S&P discount, it shows capital actively rotating out of legacy SaaS into agent-native replacements.