Anthropic’s introduction of Claude Cowork plugins for legal, finance, and marketing workflows instigated a $285 billion selloff in software and data stocks within a week, sharply impacting firms like Thomson Reuters, LegalZoom, Salesforce, and Microsoft. This significant market reaction reflects investor apprehensions about potential obsolescence of traditional software, as Anthropic’s customizable plugins allow AI systems to perform specialized tasks such as contract review and financial analysis. These innovations highlight a broader industry trend where major AI firms are venturing into verticals like legal tech, compelling existing providers to enhance their offerings to maintain competitive advantage.
Anthropic’s Claude plugins trigger $285B selloff in software stocks
