Ed Elson

On Monday night, the company released a new clawed co-work feature which allows its AI model to autonomously access apps, navigate browsers, and edit files.

This news immediately spooked the markets.

Major software companies like Microsoft, Salesforce, and Palantir all ended the day in the red.

As a whole, the IGV software ETF closed down roughly 4%.

It's now off more than 30% from its peak last fall.

Here to break down what is happening in software, we are speaking with Gil Luria, head of technology research at DA Davidson.

Gil, this is...

the SaaSpocalypse part two, probably less intense than the first one.

But it is striking that we're seeing the same thing, a new AI tool released by the same company.

And again, investors are very concerned about this.

What do you make of the new tool from Anthropic?

And are you as concerned as other investors appear to be?

Walk us through what Anthropic has actually released here.

Like, we had that first slate of new tools like Claude Cowork, and that was what roiled the markets the first time, and now we're seeing this new development.

Like, what is so striking about what they have announced here, and how does it differ from the first round?

One thing that's not totally clear to me, we have seen this before in the form of this AI agent that went viral recently called OpenClaw.

And it was very exciting to a lot of people.

A lot of people were using it.

And it was doing the things that we're describing.

It was this agent going in and just executing tasks once you tell it what to execute.