Stocks in the world’s largest software companies lost billions of dollars in value on Wednesday after US giants Amazon and Anthropic said they were developing new artificial intelligence tools, worsening fears that traditional software developers could soon be obsolete.
A yet-to-be-released sales AI agent from Amazon Web Services, and a new autonomous function for AI behemoth Anthropic’s coding model, sent swathes of the Nasdaq tumbling overnight as the market attempted to price the future value of software-as-a-service companies.
