Software stocks rallied on Tuesday after Anthropic hosted an Enterprise Agents event where it revealed new partnerships, allaying some investors’ concerns that the sector would be replaced by artificial intelligence.
The AI startup has launched a new update to Claude Cowork that allows businesses to integrate productivity tools into a host of enterprise apps, including: sales force-Owned Slack, intuition, docusign, legal zoom, fact set and googleGmail.
Anthropic said organizations can also deploy customizable plugins across areas such as financial analysis, engineering and human resources.
Salesforce stock rose 4% after Anthropic’s announcement, but Docusign and legal zoom Each rose more than 2%. Thomson Reutersshares soared more than 11%, while FactSet shares rose nearly 6%.
1-day stock charts for Salesforce, Docusign, and Thomson Reuters.
Analysts at Wedbush Securities said in a research note Tuesday that Anthropic’s events showed that the risk of AI competition to software is “overstated.”
They argued that models cannot replace entire workflows that remain “deeply embedded” in the software infrastructure.
“The reality is that these new AI tools will not tear down existing software ecosystems and data environments and replace them with AI tools that are as useful as the data they can reach,” the analysts wrote.
Anthropic’s recent product rollout has sent software and cybersecurity stocks tumbling in recent weeks as investors digest the looming threat of AI tools to these business models.
cloud strike Many of these stocks rose, although they closed mostly flat on Tuesday. Octa and cloudflare It rose about 2%. Z scaler and Tenable each increased by approximately 4%, sentinel one It increased by 3%.
IBM Anthropic’s stock sold off heavily on Monday after the company touted tools that could automate some of the programming languages that run on IBM computers. IBM stock rebounded on Tuesday, rising more than 2%.
—CNBC’s Ashley Caputo and Kate Rooney contributed reporting to this story.
