Anthropic's new AI tools deepen selloff in data analytics and software stocks, investors say [Yahoo! Finance]
RELX PLC PLC American Depositary Shares (Each representing One Ordinary Share) (RELX)
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Source: Yahoo! Finance
analytics, professional services and software companies deepened on Tuesday, with some investors pointing to a recently updated artificial intelligence chatbot by Anthropic as ?the main culprit. AI developer Anthropic launched plug-ins for its Claude Cowork agent on Friday that would automate tasks across legal, sales, marketing and ?data analysis. That move has sparked worries of an impending AI-fueled disruption of the data and professional services industry, which were once seen as major beneficiaries of the AI era, according ?to traders and analysts. Toronto-based Thomson Reuters, which owns the Westlaw legal database, slumped by nearly 18%. It is on track for its biggest daily loss on record and lowest close since June 2021. "I think Anthropic came out with some plug-ins to tackle the legal space," said Mike Archibald, a portfolio manager at AGF Investments in Toronto. "Obviously, that's where Thomson Reuters generates a good chunk of their revenues. Sometimes the market ju
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