Thomson Reuters Stock Soars Over 11% After Announcing AI Assistant CoCounsel Reaches Million Users

Deep News02-25 09:10

Shares of technology and content provider Thomson Reuters surged more than 11% on Tuesday after the company announced that its enterprise-focused AI assistant, CoCounsel, has attracted one million users, easing concerns that competing AI tools could disrupt its business.

The stock recorded its largest single-day gain since 2009. The rally followed an announcement by Anthropic on Tuesday that several companies, including Thomson Reuters, are using its AI technology to deliver related products.

Earlier this month, Anthropic introduced a new AI tool that integrates its Claude large language model into legal workflows, triggering a sell-off in global software and services stocks that erased $830 billion in market value over six trading sessions. Investors worried the technology could erode industry revenue streams. As a result, Thomson Reuters shares remain down more than 30% year-to-date.

In response to inquiries about the stock volatility, Thomson Reuters President and CEO Steve Hasker stated via email: "The legal AI market is maturing, and substance matters more than hype. Our 'trusted-grade' AI strategy is driving real-world adoption—we have the capital, content, and expertise to shape the next phase of development." The legal professionals segment is Thomson Reuters' largest revenue source, accounting for approximately one-third of total sales.

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