- Microsoft stock was rattled by Anthropic's reveal of tools that could rival Office on Tuesday.
- Anthropic unveiled Claude Sheets, Claude Whiteboards, and Claude Data.
- Commercial and consumer revenue from Microsoft 365 rose 16% in the last year.
Microsoft stock dropped on Tuesday, pressured by Anthropic's reveal of a suite of tools that could rival the legacy tech giant's Office products.
Anthropic rolled out a suite of new AI tools that rival similar services in Microsoft Office, including Claude Sheets, Claude Whiteboards, and Claude Data.
"Starting today, Claude can build spreadsheets, whiteboards, and dashboards with your team. These work with its existing abilities to create documents, slide decks, and designs," the company said in a release on its website.
Microsoft 365 makes up a significant portion of the tech giant's total revenue, with consumer and commercial products and cloud services revenue in that segment of the business rising 16% in the last fiscal year, according to Microsoft's 2026 investor letter.
Tuesday's stock decline adds to the pressure on the stock stemming from broader volatility hitting the AI sector recently. Tech stocks led last week's stock rout following the midterms, as investors feared Democrats could slow data center development.
The tech space was rattled again this week as investors digest hot inflation data and Nvidia CEO Jensen Huang's affiar and the future trajectory of the AI chipmaker.
Anthropic is forging ahead with its IPO, bucking the recent volatility in the AI trade and beginning a roadshow this week as it aims to price its deal on November 18. The Claude parent unveiled a suite of new tools earlier this year that sparked panic for software-as-a-service companies, sparking a major sell-off and a rerating of software stocks thought to be exposed to disruption from AI.
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