Lana

Investors saw the writing, or should we say the coding, on the wall for software stocks last week.

That's because Anthropic added advanced legal and research tools to its Claude AI tool, essentially proving to be an existential threat to non-AI alternatives that do the same things.

Then, investors turned their attention to property brokers.

The logic?

If AI systems can match buyers, analyze building data, and draft leases faster and cheaper than today's baseline, then the current business model might be a sitting duck.

So on Wednesday, they cut real estate giants loose, sending CBRE Group and Jones Lang LaSalle down roughly 12%, and Cushman & Wakefield down 14%.

Finally, investors kicked wealth managers to the curb.

That came after fintech firm Altruist announced an AI tool capable of instantly turning financial documents into tailored tax strategies.

Because that's basically a wealth manager's bag, investors barely blinked before ditching the likes of Charles Schwab and St.

James Place.

Now, it's true, AI is likely to disrupt certain industries by completing similar work at a lower cost.

But that will take time.

Changes in contracts, regulation, and client behavior can take years to play out.

And of course, forward-thinking firms may well manage to use the technology to better their business, potentially increasing their capacity and productivity to lower costs and improve profit.

So for long-term investors, this sell-off could be a chance to scoop up strong brands with solid potential at discounted prices.

That's it for today.

I'm Lana.

I'll see you tomorrow.

Hey, I'm Lana with your Daily Brief for Thursday, February 12th.

Coming up... The U.S.