Anthropic Claude Cowork Panic: Google CEO Sundar Pichai Dismisses Global Market ‘Bloodbath’ Over New AI

Google CEO Sundar Pichai and Nvidia CEO Jensen Huang have dismissed the recent market sell-off, triggered by Anthropic's new AI plugins, as an overreaction. The market lost approximately USD 285 billion as software, legal tech, and financial services companies experienced a sharp decline, dubbed a 'SaaSpocalypse.' Pichai maintains that AI is an 'enabling tool' and that companies can capitalize on opportunities arising from the technology. Nvidia CEO Huang echoed this sentiment, stating that AI is designed to enhance existing software infrastructure rather than replace it, citing his company's internal adoption of AI tools which has freed up employees to focus on higher-level tasks. The release of Anthropic’s 11 open-source plugins, particularly a legal-specific plugin automating tasks like contract reviews, was the primary catalyst for the downturn, impacting companies like Thomson Reuters, RELX, LegalZoom, Infosys, and Wipro. Despite the market volatility, Meta has observed a significant increase in engineer output due to AI coding tools, and Anthropic's own Claude Code platform has achieved USD 1 billion in annual recurring revenue. While Wall Street remains cautious, tech leaders express confidence that the market panic will subside as AI continues to evolve.

(Source：Latestly)