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Explained: Anthropic AI tool that wiped $285 billion off software stocks
Concerns over Anthropic’s AI tool sparked a sharp global tech selloff, wiping billions from software stock valuations.
Anthropic’s new AI tool triggered a massive selloff in global software stocks, erasing nearly $285 billion in market value in a single day. The tool raised fears of faster automation, lower software pricing power, and disruption to existing business models. Investors worried enterprise AI adoption could compress margins, hitting valuations across large tech firms and outsourcing dependent companies worldwide amid rising competition and uncertainty