In January 2026, the tech community literally went crazy for a new tool from Anthropic called Claude Code. This AI model, which generates code, is nothing new in the sense that AI has long been capable of writing lines of programs. But according to Noah Brier, co-founder of the consulting firm Alpehic, which helps large organizations adopt AI technologies, Claude Code is something special. Noah Brier has been using large language models longer than most people, since before the ChatGPT era. He explains that Claude Code represents an evolution in assisted coding because it can handle complex tasks more independently than earlier versions. People are now asking: "Is this already artificial general intelligence?" – because the tool can generate code so naturally that it looks like the work of an experienced programmer. On Bloomberg's Odd Lots podcast, hosts Joe Weisenthal and Tracy Alloway described it as the moment when AI moved from simple chatbots to genuine tools that are changing how companies work.
Launch of Claude Cowork and its features
Anthropic did not stop with Claude Code. On Monday, it launched Claude Cowork, which functions as an autonomous digital assistant. Unlike ordinary chatbots, Cowork can access files on the user's computer, modify folders, and connect to browser tools to handle office tasks. According to Anthropic, Cowork was created in less than two weeks with the help of its own Claude Code. It is available as a research preview for Claude Max subscribers on macOS, priced at up to CZK 4,600 per month. Anthropic says that Cowork can, for example, sort and rename files in the downloads folder, create an expense spreadsheet from a pile of screenshots, or compile the first version of a report from scattered notes. This tool takes the capabilities of Claude Code and brings them to non-programmers, meaning that people without programming experience can automate complex workflows without knowing how to code.
Impact on software company stocks
The launch of Claude Cowork immediately shook the stock market. Shares of major software companies such as Salesforce (CRM) and Adobe (ADBE) were among the biggest losers in the S&P 500 on Monday. The entire iShares Expanded Tech-Software Sector ETF (IGV) fell 4% from the beginning of the week. Investors fear that if AI such as Cowork can independently handle a wide range of complex tasks, it will reduce the need for specialized software solutions and thus the subscription revenue of traditional companies. Other affected stocks include Atlassian (TEAM), which fell 18%, Snowflake (SNOW) by 6%, ServiceNow (NOW) by 12%, Workday (WDAY) by 10%, Twilio (TWLO), and Datadog (DDOG). According to a report from Investors.com, investors are concerned that AI companies such as Anthropic and OpenAI are entering the enterprise software market, putting pressure on "per-seat" licensing models because AI could boost productivity and reduce employee headcounts, and therefore the number of licenses.
Are investors' concerns overblown?
Not all analysts share the panic. Arjun Bhatia of William Blair called the market's reaction "overblown" in his Thursday note. According to him, Claude Cowork is adding sentiment-driven pressure to software stocks, but not fundamental pressure. Traditional companies are protected by their data, the breadth of their platforms, and workflows that AI agents cannot easily replicate. Moreover, these companies are quickly integrating their own AI into their systems for existing customers. In a Wednesday report, Siti Panigrahi of Mizuho spoke of "overblown AI concerns" that are creating buying opportunities, for example in Intuit (INTU), whose shares fell 13% over fears that Cowork could file tax returns. But Panigrahi argues that tax matters are too complex and risky for an AI tool. Rishi Jaluria of RBC Capital warns that innovations from Anthropic, OpenAI, and Google could continue to put pressure on the software sector throughout the year, including vertical markets such as healthcare, where Anthropic recently released Claude for Healthcare and Life Sciences.
Anthropic's rapid growth
Anthropic has achieved astonishing success with Claude Code – it reached CZK 23 billion in annualized revenue in just six months. According to a report from Morningstar, the debate over whether AI will kill traditional software has been going on for more than a year, and the launch of Cowork has only added fuel to the fire. For the average person, this means that AI is no longer just about entertainment or simple questions – these are tools that are transforming high-level office work. While some see this as a threat to established players, others view it as an opportunity. The market is now asking: Is this the beginning of the end for traditional software, or just a temporary shock?
You can watch the full Odd Lots podcast here:
