SaaSpocalypse Fears: Anthropic's AI Upgrade Sparks $285 Billion Tech Market Sell-off

• Anthropic's new enterprise AI assistant with an automation layer capable of handling entire business workflows has caused significant unease in global technology markets.
• The upgraded AI system introduces automation plug-ins designed to carry out full processes end-to-end, potentially replacing multiple software subscriptions.
• Markets reacted sharply, with a basket of US software stocks tracked by Goldman Sachs falling by six percent, wiping out an estimated $285 billion in market value.
• Major enterprise software companies like Salesforce, Adobe, DocuSign, Workday, and ServiceNow, along with legal and data firms, were hit in the sell-off.
• Investors now fear AI could replace entire categories of enterprise software, challenging the previous assumption that AI would only boost software companies.