Today, Anthropic unveiled a cutting - edge AI tool specifically designed for corporate legal departments. This development poses a potential threat to some traditional legal software, causing a substantial slump in the share prices of relevant companies. The share prices of RELX Group and Wolters Kluwer Group took a significant hit, plummeting by as much as 11% at one point.

The market turmoil didn't stop there; it also rippled across other business sectors that are highly susceptible to AI disruption. As a result, the share prices of numerous companies in these sectors experienced a downturn. The UBS - compiled European AI Risk Stock Portfolio Index witnessed a 4.7% drop at one stage, reaching an all - time low.

With the continuous advancement of AI technology, investors must remain on high alert for such market shocks. Last week, the share price of German software company SAP SE declined due to a less - than - optimistic performance outlook. This incident further fueled market anxieties regarding the potential for AI to disrupt the enterprise software industry.

Anthropic clarified that while the new tool is capable of automating a wide range of legal tasks, it does not offer legal advice. Moreover, the company has revised its latest funding round target, increasing it from $10 billion to $20 billion. This funding round is anticipated to be finalized soon, and upon completion, the company's valuation is projected to reach $350 billion.