Anthropic's $380B Valuation Dwarfs India's Top IT Firms Amid AI Fears

• Anthropic, an AI company, is valued at $380 billion, surpassing the combined market capitalization of India's Nifty IT index ($296.4 billion).
• The rise of generative AI, particularly Anthropic's Claude for Cowork, is causing an existential threat to India's IT industry.
• Indian IT stocks like TCS, Infosys, and HCL Technologies saw significant declines (9-11%) over the past week.
• The top five domestic IT companies lost nearly Rs 3,11,873 crore in market capitalization this week.
• Anthropic recently secured $30 billion in Series G funding, led by GIC and Coatue, to fuel its research and expansion.