Newscasts - US software stocks climb as Anthropic announcement sparks relief rally
24/02/2026 22:46
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_9juivw9r&referenceId=tag:reuters.com,2026:newsml_RW830124022026RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: 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. Alex Cohen has more. Short Link: https://lseg.group/3MXnVSh Video Transcript: US software companies got a boost Tuesday from one of their perceived rivals, an artificial intelligence firm. AI startup Anthropic announced partnerships with Salesforce's Slack division, Docusign, and others to develop new tools that could help with investment banking, wealth management, and HR tasks. The stocks got a lift after being hammered by fears about the disruptive impact of AI. Shares of Salesforce climbed nearly 4% in Tuesday afternoon trading while Docusign was up about 2.5%. The software sector fell to a 10-month low Monday after Citrini Research laid out a 2028 scenario where unemployment rises to 10.2%, triggered by layoffs as AI rapidly supplants software and delivery applications. One market strategist tells Reuters that the disruption predicted is not imminent and is probably years away and software stocks were due for a bounce. A week-long sell-off earlier this month wiped out about $1 trillion in market value on Wall Street that analysts dubbed "Software-mageddon" and hurt sectors spanning from software to logistics companies on both sides of the Atlantic and India.