Microsoft's stock slipped 3% on Tuesday after Anthropic introduced new collaboration tools that could challenge Microsoft Office.
The fresh lineup (Claude Sheets, Claude Whiteboards, and Claude Data) was revealed as Anthropic gears up for its IPO.
Anthropic tools, On Holding shares slump
Anthropic's tools are designed to help teams work together, from making spreadsheets with Claude Sheets to brainstorming on Claude Whiteboards.
These features could shake up the market Microsoft has long dominated.
In other news, On Holding's shares also took a hit (down 8%) after its direct-to-consumer sales missed expectations, even though overall sales were up.