US EditionFTSE 100 down as AI worries knock data providers
Anthropic's legal AI plugin caused European software and data stocks to drop up to 17%, signaling investor concerns over AI disrupting traditional business models.
- Artificial intelligence is influencing the stock market as investors shift focus to companies that could be disrupted by new technology rather than those profiting from it.
- On February 3, U.S. stocks declined, with the Nasdaq 100 Index falling 1.6% and shares of Thomson Reuters dropping nearly 18%.
- Investor fears regarding AI's impact on traditional business models contributed to a broad sell-off in the software sector, with significant declines seen across various companies, including Thomson Reuters.
- Anthropic's AI tools have heightened competition in the legal industry, affecting stock prices significantly.
22 Articles
22 Articles
Software stock slide worsens on AI fears
US software stocks sank further Tuesday on swelling investor fears that new AI tools will eat their lunch.The selloff came after AI startup Anthropic unveiled new tools that can automate legal, sales, and marketing tasks — potentially disrupting fields that were once seen as beneficiaries of the AI boom. Some of the hardest-hit companies were those with large analytics businesses, like Thomson Reuters, which owns a legal database.Even stocks of …
‘Get Me Out’: Traders Dump Software Stocks as AI Fears Take Hold
Wall Street has been skeptical about software stocks for a while, but sentiment has gone from bearish to doomsday lately with traders dumping shares of companies across the industry as fears about the destruction to be wrought by artificial intelligence pile up.
Times of India
The Economic TimesWhat is Anthropic’s new legal AI tool and why investors are dumping software stocks
Anthropic new AI tool: Explore Anthropic's new AI tool designed for the legal industry, its implications on software stocks, and the rising competition in legal AI.
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