Anthropic AI Legal Tool Launch Triggers Stock Plunge in European Data Firms
Pearson, Relx, and Wolters Kluwer shares dive on fears AI will disrupt legal services
UK publishing group Pearson shares fell by 4 percent, while information and analytics firm Relx plunged nearly 11 percent on the London stock exchange. Dutch software company Wolters Kluwer dropped almost 9 percent in Amsterdam.
The market reaction reflects investor fears that AI tools from companies like Anthropic could disrupt the lucrative legal services and professional information markets that these European firms have dominated.
London Stock Exchange Group and Experian also saw share declines amid the broader selloff in data services firms.
Analysis
Why This Matters
The market reaction shows how AI announcements can immediately impact established industries, even before products fully launch.
Background
Anthropic, maker of the Claude AI assistant, has been expanding into enterprise applications. Legal services represent a massive market for AI disruption.
What to Watch
Whether European data firms accelerate their own AI development or face continued pressure from US tech giants.