US software stocks climb as Anthropic announcement sparks relief rally
Market Intelligence Analysis
AI-PoweredUS software stocks rebounded after Anthropic announced new tools with its partners, easing fears about AI disruption, and touched a 10-month low due to concerns about AI-induced layoffs.
Market impact analysis based on bullish sentiment with 85% confidence.
Article Context
Shares of U.S. software companies that entered into partnerships with AI startup Anthropic on Tuesday helped lead a rebound in the sector that has been hammered by fears about the disruptive impact of artificial intelligence. Anthropic said it was developing new tools, the so-called "plug-ins", with its partners that could help with investment banking, wealth management and HR tasks, including deal reviews, portfolio analysis and making new-hire materials reflect a brand's tone and policies. The software index touched a 10-month low on Monday after Citrini Research laid out a 2028 scenario where unemployment rises to 10.2%, triggered by layoffs as AI rapidly turfs out software and delivery applications.
Analysis and insights provided by AnalystMarkets AI.