IT companies like Infosys, Wipro, and TCS saw their share prices drop today morning. This happened because US and European stocks in data analytics, consulting, and software also fell sharply. The drop came after AI company Anthropic launched new tools, making investors worry about big changes from AI in these industries.
Anthropic recently launched plug-ins for its Claude Cowork agent:
Anthropic recently launched plug-ins for its Claude Cowork agent, aimed at automating tasks across legal, sales, marketing and data analysis functions. Plugins work across use cases, but are especially powerful in tailoring Anthropic’s Claude to specific job functions such as sales, legal and financial analysis.
American depository receipts of Infosys plunged 5.56 per cent overnight to $17.32, while Wipro ADRs fell 4.83 per cent to $2.56, stoking concerns of a selloff in Indian information technology stocks during domestic trade.
Global equities were under pressure as well. The Nasdaq Composite declined 1.43 per cent to settle at 23,255.19, while the S&P 500 fell 0.84 per cent to 6,917.81.
In a note dated January 29, Jefferies said the initial success of OpenAI had served as a wake-up call for US Big Tech, highlighting the threat of disruption and prompting a surge in capital expenditure. It added that hyperscalers appeared increasingly willing to exit their traditional moats and move away from asset-light business models as they converged on the same opportunity set.
OpenAI was viewed as the primary threat three years ago:
However Jefferies noted that while OpenAI was viewed as the primary threat three years ago, that narrative was now changing.
“The evidence continues to grow that OpenAI is losing the corporate market to Anthropic’s Claude,” Jefferies said. “Anthropic’s AI coding tool, Claude Code, was publicly launched only in May last year and reached $1 billion in annualised recurring revenue by November. With such performance, it is no wonder that estimates of Anthropic’s value are surging.”
The brokerage added that Anthropic was reportedly set to raise about $20 billion from investors in its current funding round, doubling the amount previously targeted. This would value the company at around $350 billion, up from an estimated $183 billion last September and $61.5 billion in March 2025.
