AI Advances Wipe Over $1 Trillion from Software and Tech Stocks
New AI tools from Anthropic and OpenAI trigger massive tech stock selloff. Investors fear AI disruption threatens traditional software business models.
New AI tools from Anthropic and OpenAI trigger massive tech stock selloff. Investors fear AI disruption threatens traditional software business models.
Claude Cowork plugins spark fears of AI disruption, causing Thomson Reuters, Legalzoom, and other software stocks to plunge 15-20%.
Major tech indexes tumble as investors reassess AI's impact on traditional software companies, with Nasdaq down over 1% amid sector-wide concerns.
Anthropic's new legal AI plug-in sparks massive software stock selloff as investors fear AI disruption threatens traditional SaaS business models.
Anthropic unveiled a legal automation plugin for Claude Cowork that caused major legal and publishing software stocks to plummet. Shares of Thomson Reuters fell 18%, RELX dropped 14%, and Pearson declined 8% as investors fear AI disruption in the legal services industry.
A new study from Microsoft Research pinpoints high-skill, white-collar jobs in finance, legal services, and software engineering as the most exposed to disruption from generative AI. The research highlights that AI is increasingly capable of performing complex cognitive tasks, fundamentally restructuring these professions.
The release of a new AI tool from Anthropic has sent shockwaves through the software industry, causing stocks to sink as investors fear widespread disruption and a potential shift in the market landscape.