US EditionAnthropic AI Tool Sparks Selloff From Software to Broader Market
4 Articles
4 Articles
Anthropic AI Tool Sparks Selloff From Software to Broader Market
(Bloomberg) — Once again, artificial intelligence is dominating investors’ attention in the stock market. These days, however, the focus is turning more and more toward companies that may get disrupted by the new technology rather than those who stand to profit from it.
The launch of Anthropic's new AI tool reactivated the fears of disruption and led to a strong sale of technological shares, with special impact on software and data services companies.
US stock markets fell sharply on Tuesday, primarily due to fears that AI developments will undermine the position of established software companies. These fears were fueled earlier in the day on European stock markets by a new tool from the American AI company Anthropic, designed to automate legal work. The tool further fueled doubts about the impact of AI on the entire information and data sector.
The roles of legal software companies and publishers RELX Plc and Wolters Kluwer NV were among the hardest hit, with falls of up to 11% each, following the presentation of a new AI-driven productivity tool for companies' internal lawyers. Read more
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