TLDR
- Software stocks fell sharply on Tuesday, with Salesforce dropping over 6% and Microsoft sliding nearly 3%
- Anthropic’s Claude can now control Mac computers, open apps, browse the web, and fill spreadsheets
- AWS is building AI agents to replace sales and tech support roles after recent layoffs
- The iShares Tech-Software ETF is down 23% this year as AI disruption fears grow
- Salesforce’s own AI product, Agentforce, grew 82% in six months but still only brings in around $800 million a year
Software stocks took a beating on Tuesday as two announcements from AI company Anthropic added fuel to fears that AI agents could replace human workers and disrupt the subscription software business.
Microsoft fell around 2.6% on the day. Salesforce dropped more than 6%. CrowdStrike fell nearly 5%, and Datadog slid close to 5% as well. The S&P 500 was down a more modest 0.4%.
The iShares Expanded Tech-Software Sector ETF dropped 4% on the day and is now down 23% for the year. Palantir and Salesforce, two of its largest holdings, each fell around 5%.
The sell-off was linked to growing concerns about AI automation and what it could mean for software companies that charge monthly or annual fees per human user.
Anthropic announced on Monday that its Claude assistant can now directly control a Mac computer. It can open apps, navigate browsers, and fill in spreadsheets on a user’s behalf. The feature is called Claude Cowork and is available to Pro and Max subscribers.
Users can now assign tasks from their phone and return to find the work already done on their desktop computer. They can also set up recurring tasks, like scanning emails every morning or generating weekly reports.
AI Agents Move Beyond Coding Into Office Work
Anthropic also released a new report from its Economic Index showing that use of Claude tools is expanding beyond coding into office, financial, and management tasks. That shift is at the heart of investor concern about the software sector.
Desktop agents are still in an early stage and carry real risks. These include accidental data deletion, data leaks, and new types of security vulnerabilities. Anthropic has warned users to understand these risks before using Cowork.
Separately, Amazon Web Services is reportedly building its own AI agents to automate sales and technical support roles. The Information reported that AWS has been creating a tool to help sales staff answer technical questions, work that was previously handled by thousands of specialist employees.
An AWS spokesperson confirmed the company is building an agent that pulls together knowledge from across AWS so employees can focus on more complex customer work.
Software Companies Are Fighting Back
Software companies are not sitting still. Salesforce has been pushing its own AI product called Agentforce. Sales grew 82% in six months, though the product still only brings in about $800 million a year.
Salesforce’s stock is down 30% this year. Intuit, ServiceNow, and Gartner were also in the red on Tuesday.
The concern driving the sell-off is straightforward: if AI agents handle the work, companies may need fewer human software licenses. That puts pressure on the subscription model, which typically carries around 80% gross profit margins.
AWS confirmed it laid off hundreds of employees in sales and business development roles before announcing its AI agent plans.
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