Adobe shares slide as investors skeptical of quicker AI-adoption returns

(Reuters) -Adobe’s shares dropped 7% in early trading on Friday as investors’ concern that the company’s AI adoption into its software tools could take longer to fetch returns, overshadowed a raised annual revenue forecast. The company said in April that it would add AI models from OpenAI and Google to Firefly, its generative AI tool. “While guidance was raised and management remains positive around demand generation, it feels like it will take more time to prove out these (AI) initiatives and quiet concerns of competition around GenAI,” RBC analysts said in a note.