Workday skyrockets 25% before trading halted on report of Silver Lake takeover

Workday shares jumped more than 25% after a report said private equity firm Silver Lake is in talks to buy the human resources software company. Trading was briefly halted in late afternoon as the news circulated, and the stock’s market value last topped more than $53 billion, according to the report. The company and Silver Lake did not respond immediately to CNBC’s request for comment. The move comes as software stocks have faced pressure due to concerns that artificial intelligence tools could disrupt their business models. Earlier this year, Workday named co-founder Aneel Bhusri as its CEO.