Anthropic keeps Claude Mythos exclusive to 40 firms, shares tumble
Big day for tech stocks: US software companies saw shares slide on Thursday after Anthropic decided to keep its new AI, Claude Mythos, exclusive to around 40 companies, including Microsoft and Google.
This move followed the discovery of thousands of cybersecurity issues, leaving many traditional software players feeling left out and worried about staying relevant.
S&P 500 software index falls 3.1%
The S&P 500 Software and Services Index fell another 3.1% on Thursday, making it nearly a 26% drop this year.
Companies like Cloudflare, Okta, CrowdStrike, and SentinelOne all took hits between 4.7% and 7.7%. Zscaler dropped even more after a downgrade from analysts.
As Michael O'Rourke put it, "If Mythos is that strong and that powerful and it's exposing these vulnerabilities that have been around for years, it just shows one, the weakness of the current software that's out there and two, that AI is still making incredible progress versus legacy software companies," and legacy software companies are definitely feeling the pressure.