Database company MongoDB beats Wall Street expectations in fourth-quarter results, but its shares plunge after it issues disappointing guidance, SiliconANGLE reported on Monday. Investors sell large amounts of MongoDB stock on concerns that AI could threaten software companies' business models, SiliconANGLE said.

MongoDB posts fourth-quarter adjusted earnings per share of $1.65, topping Wall Street's estimate of $1.48. Revenue rises 27 percent to $695.1 million, beating expectations. But in its first-quarter guidance it forecasts adjusted EPS of $1.15 to $1.19, compared with Wall Street's estimate of $1.20, and revenue of $659.0 million to $664.0 million. That leads to the share decline.

As AI changes how companies develop software, concerns spread that MongoDB's database model could be shaken. The stock plunges 23 percent.

MongoDB has been seen as a beneficiary of the AI boom as it gains popularity among developers of data-centric applications. Chief Executive CJ Desai (CJ 데사이) said, "In the long term, we will secure competitiveness in the AI market." He added, "AI applications require high-quality data retrieval capabilities, and MongoDB is a platform that can meet these needs."