US EditionIndian tech stocks slump as Anthropic's AI tool raises global staffing concerns
- On Feb 3, a sell-off among US and European data-analytics, professional services and software firms deepened, with traders pointing to Anthropic's release of `agentic AI` tools including the Claude Cowork legal plug-in.
- Investor concern centred on automation as traders and analysts warned AI tools threaten per-user revenue models by enabling firms to do more with fewer staff in the data and professional services industry.
- RELX, Wolters Kluwer, and Thomson Reuters posted steep losses, with RELX dropping as much as 17 percent, illustrating the impact of AI-related concerns.
- Sector ETFs tumbled as the iShares Expanded Tech-Software Sector ETF fell 4.6% amid a sixth day of declines, while a Goldman Sachs basket of US software stocks sank 6% on Tuesday.
- Anthropic's position in the AI ecosystem gives it an edge as it builds customizable models, while Morgan Stanley and Barclays analysts urged WPP, Omnicom and Publicis to launch revenue-generating AI products.
26 Articles
26 Articles
Infosys, TCS and other IT stocks bleed after Anthropic's new AI tool - Check share price
Shares of Indian IT companies are under pressure following a significant selloff in tech stocks in global markets. Stocks of companies such as Infosys, Tech Mahindra, Wipro, HCL Tech, and Coforge fell amid heightened concerns following the launch of new tools by AI developer Anthropic. Anthropic has launched plug-ins for its Claude Cowork agent ,which is aimed at automating tasks across legal, sales, marketing and data analysis functions. Earlie…
Indian tech stocks slump as Anthropic's AI tool raises global staffing concerns
Feb 4 : Shares of Indian IT exporters slumped 6 per cent on Wednesday, tracking losses in global software stocks, after AI developer Anthropic launched new tools that heightened concerns over AI-driven disruption in the data and professional services industry.Anthropic launched plug-ins for its Claude Cowork
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 …
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