Claude Cowork’s plug-ins the newest reason for software stocks to crater
“Claude Cowork’s new plug-ins” have joined “Microsoft’s cloud business growth poised to decelerate by half a percentage point” and “the launch of Claude Cowork” as the latest reasons to send software stocks into the abyss.
Anthropic’s new tools for Cowork, a computer assistant on mental steroids, are doing outsized damage to stocks linked to the legal industry on Tuesday, but also likely weighing on the entire software complex. The iShares Expanded Tech Software ETF is down 3.4% as of 10 a.m. ET, with DocuSign, Atlassian, Salesforce, Workday, Adobe, and ServiceNow all slammed.
The chatbot maker said these plug-ins were “especially powerful for tailoring Claude to specific job functions,” and lawyers aren’t the only folks who will feel a little itchy under the collar upon seeing that.
As previously discussed, these plug-ins run the gamut in terms of applicable professional domains: in addition to legal, there’s productivity, enterprise search, sales, finance, data, marketing, customer support, product management, and biology research, as well as a meta plug-in to create and customize other plug-ins.
Anthropic’s new tools for Cowork, a computer assistant on mental steroids, are doing outsized damage to stocks linked to the legal industry on Tuesday, but also likely weighing on the entire software complex. The iShares Expanded Tech Software ETF is down 3.4% as of 10 a.m. ET, with DocuSign, Atlassian, Salesforce, Workday, Adobe, and ServiceNow all slammed.
The chatbot maker said these plug-ins were “especially powerful for tailoring Claude to specific job functions,” and lawyers aren’t the only folks who will feel a little itchy under the collar upon seeing that.
As previously discussed, these plug-ins run the gamut in terms of applicable professional domains: in addition to legal, there’s productivity, enterprise search, sales, finance, data, marketing, customer support, product management, and biology research, as well as a meta plug-in to create and customize other plug-ins.
