An AI-induced stock slide subsided on Tuesday as traders grew more confident that the tech can augment, rather than replace, traditional software businesses.
AI startup Anthropic — whose Claude tools sparked the rout earlier this month — announced partnerships with software firms on Tuesday, a message that amounted to: “We’re here to help, not hurt,” one analyst said.
The relief rally spurred some strategists to temper their expectations of a broad meltdown at the hands of AI, with a JPMorgan Chase expert arguing, “The catastrophizing seems overdone.”
But investors are so skittish that a recent viral blog post imagining a bleak AI future was enough to spark a selloff. The market is “looking for an excuse to fall,” a Financial Times columnist wrote.