Software stocks rebound as Anthropic announces new partnerships
Software stocks staged a comeback on Tuesday after Anthropic hosted a corporate agency event, unveiling new partnerships and allaying some investors’ fears that the sector could be displaced by artificial intelligence.
AI startup launches new updates Claude Cowork It allows companies to integrate the productivity tool into a range of enterprise applications such as: sales forceowner Slack, Intuition, document signature, LegalZoom, Information Set And GoogleGmail.
Organizations can also deploy customizable plugins to industries such as financial analysis, engineering and human resources, Anthropic said.
Salesforce shares up 4% following Anthropic announcement, Docusign and LegalZoom each gained more than 2%. Thomson Reuters‘ shares were up more than 11% and FactSet shares were up nearly 6%.
A daily stock chart of Salesforce, Docusign and Thomson Reuters.
Analysts at Wedbush Securities said in a research note published Tuesday that Anthropic’s activity shows that the competitive risk to software from AI is “overstated.”
They argued that the models cannot replace entire workflows that remain “deeply embedded” in the software infrastructure.
“The reality is that these new AI tools will not replace existing software ecosystems and data environments with these AI tools, and they simply will not be as useful as the data they can access,” the analysts wrote.
The last days of Anthropic product presentations Software and cybersecurity stocks have tumbled in recent weeks as investors digest the growing threat AI tools pose to these business models.
CrowdStrike It closed largely flat on Tuesday, but many of these stocks rose. okta And cloud flare increased by approximately 2%. Zscaler And defensible each gained about 4% and SentinelOne rose to 3 percent.
IBM’s Shares sold off heavily on Monday after Anthropic unveiled a tool that could automate some aspects of a programming language that runs on IBM’s computers. Shares of IBM rebounded on Tuesday, rising more than 2%.
— CNBC’s Ashley Capoot and Kate Rooney contributed to this story.
