Claude Cowork Plugins Crash Software Stocks: Thomson Reuters Down 15%

Enterprise Software Faces Existential AI Threat

Shares of enterprise software companies worldwide plummeted this week after Anthropic unveiled new plugins for Claude Cowork, its AI-powered workplace assistant. The new legal and marketing capabilities sparked fears that AI could replace specialized business software.

Stock Performance

The Cowork Disruption Thesis

Claude Cowork’s new plugins can:

• Legal: Draft contracts, review documents, conduct legal research
• Marketing: Create campaigns, analyze market data, generate content
• Finance: Build financial models, analyze reports, forecast trends

These capabilities directly compete with specialized software that enterprises pay thousands of dollars per seat annually to access.

WisdomTree Cloud Fund Collapse

The WisdomTree Cloud Computing Fund has plummeted approximately 20% year-to-date in 2026, including a 6.5% drop this week alone. The fund, which tracks enterprise software companies, has become a proxy for AI disruption fears.

Investor Calculus Shifts

The market is repricing software stocks based on a new assumption: AI agents can perform many tasks that previously required specialized software. This threatens the entire SaaS model built on recurring per-seat revenue.

This analysis is part of FourWeekMBA’s AI News coverage. Read more in-depth analysis on The Business Engineer.