Krux
February 10, 2026
Anthropic's Legal AI Just Tanked Europe's Data Giants
Published: February 10, 2026 at 12:45 AM
Updated: February 10, 2026 at 12:45 AM
100-word summary
Anthropic dropped Claude Cowork, a plug-in automating contract review, NDA triage, and compliance for legal teams—and Wall Street freaked. Thomson Reuters plunged 18%, Relx 14%, Wolters Kluwer 13%, and Pearson 8% as investors fled traditional legal-data stocks. Days later, Anthropic turbocharged the chaos with Claude Opus 4.6, boosting multi-agent capabilities. Morgan Stanley flagged "heightened competition" in legal data. The selloff spread globally, with traders reassessing whether AI will gut legacy SaaS models. This could mark the beginning of a full-scale disruption for professional-services incumbents.
What happened
Anthropic dropped Claude Cowork, a plug-in automating contract review, NDA triage, and compliance for legal teams—and Wall Street freaked. Thomson Reuters plunged 18%, Relx 14%, Wolters Kluwer 13%, and Pearson 8% as investors fled traditional legal-data stocks. Days later, Anthropic turbocharged the chaos with Claude Opus 4.6, boosting multi-agent capabilities. Morgan Stanley flagged "heightened competition" in legal data. The selloff spread globally, with traders reassessing whether AI will gut legacy SaaS models.
Why it matters
This could mark the beginning of a full-scale disruption for professional-services incumbents.