JPMorgan Chase and Wall Street banks suspended a $5.3bn debt sales plan for customer service software firm Qualtrics, citing investor skepticism over its ability to withstand AI-driven market shifts. The move risks a high-profile ‘hung deal,’ forcing banks to fund the transaction themselves if external investors don’t step in. Qualtrics, which provides feedback tools for companies like Delta and Hilton, faces pressure as its $6.75bn acquisition of healthcare tech firm Press Ganey Forsta hinges on securing financing.

Investors worry the acquisition is overvalued and that Qualtrics’ business model is vulnerable to AI advancements.