Anthropic AI tool: Why Infosys, TCS, Wipro, HCL fell up to 6% today
Infosys, India's second largest IT firm, saw its shares plunging 4.51 per cent to Rs 1,580.35. TCS, the largest software exporter by sales, was down 3.15 per cent at Rs 3,122 at open.
- Feb 4, 2026,
- Updated Feb 4, 2026 9:25 AM IST
IT stocks such as Infosys Ltd, Wipro Ltd, HCL Technologies Ltd, Tata Consultancy Services Ltd (TCS) and Tech Mahindra fell up to 6 per cent in Wednesday's trade, tracking an overnight falling American Depository Receipts (ADRs) after new AI tool by Anthropic sparked fears of an AI-led disruption and led to selloff in IT stocks globally. Infosys, India's second largest IT firm, saw its shares plunging 4.51 per cent to Rs 1,580.35. TCS, the largest software exporter by sales, was down 3.15 per cent at Rs 3,122 at open. HCL Technologies Ltd was hit hard, falling 5.99 per cent to Rs 1,592.25. Wipro Ltd dropped 4.73 per cent to Rs 230.95. Tech Mahindra Ltd plunged 5.11 per cent to Rs 1,628. L&T Technology Services Ltd was down 1.84 per cent at Rs 3,740.20. Coforge Ltd dropped 5.81 per cent to Rs 1,611.50.
Anthropic recently launched plug-ins for its Claude Cowork agent, designed to automate tasks across legal, sales, marketing and data analysis functions. The plug-ins work across use cases but are particularly effective in tailoring Claude to specific job functions such as sales, legal and financial analysis.
The development weighed on information technology stocks, with American depository receipts of Infosys plunging 5.56 per cent overnight to $17.32, while Wipro ADRs fell 4.83 per cent to $2.56, stoking concerns of a selloff in Indian IT shares during domestic trade.
Global equities were under pressure as well. The Nasdaq Composite declined 1.43 per cent to settle at 23,255.19, while the S&P 500 fell 0.84 per cent to 6,917.81.
In a note dated January 29, Jefferies said the initial success of OpenAI had served as a wake-up call for US Big Tech, highlighting the threat of disruption and prompting a sharp increase in capital expenditure. It added that hyperscalers appeared increasingly willing to exit their traditional moats and move away from asset-light business models as they converged on the same opportunity set.
However, Jefferies said the narrative was shifting, noting that OpenAI was no longer seen as the sole disruptive force.
“The evidence continues to grow that OpenAI is losing the corporate market to Anthropic’s Claude,” Jefferies said. “Anthropic’s AI coding tool, Claude Code, was publicly launched only in May last year and reached $1 billion in annualised recurring revenue by November. With such performance, it is no wonder that estimates of Anthropic’s value are surging.”
The brokerage added that Anthropic was reportedly set to raise about $20 billion from investors in its current funding round, doubling the amount previously targeted. This would value the company at around $350 billion, up from an estimated $183 billion last September and $61.5 billion in March 2025.
IT stocks such as Infosys Ltd, Wipro Ltd, HCL Technologies Ltd, Tata Consultancy Services Ltd (TCS) and Tech Mahindra fell up to 6 per cent in Wednesday's trade, tracking an overnight falling American Depository Receipts (ADRs) after new AI tool by Anthropic sparked fears of an AI-led disruption and led to selloff in IT stocks globally. Infosys, India's second largest IT firm, saw its shares plunging 4.51 per cent to Rs 1,580.35. TCS, the largest software exporter by sales, was down 3.15 per cent at Rs 3,122 at open. HCL Technologies Ltd was hit hard, falling 5.99 per cent to Rs 1,592.25. Wipro Ltd dropped 4.73 per cent to Rs 230.95. Tech Mahindra Ltd plunged 5.11 per cent to Rs 1,628. L&T Technology Services Ltd was down 1.84 per cent at Rs 3,740.20. Coforge Ltd dropped 5.81 per cent to Rs 1,611.50.
Anthropic recently launched plug-ins for its Claude Cowork agent, designed to automate tasks across legal, sales, marketing and data analysis functions. The plug-ins work across use cases but are particularly effective in tailoring Claude to specific job functions such as sales, legal and financial analysis.
The development weighed on information technology stocks, with American depository receipts of Infosys plunging 5.56 per cent overnight to $17.32, while Wipro ADRs fell 4.83 per cent to $2.56, stoking concerns of a selloff in Indian IT shares during domestic trade.
Global equities were under pressure as well. The Nasdaq Composite declined 1.43 per cent to settle at 23,255.19, while the S&P 500 fell 0.84 per cent to 6,917.81.
In a note dated January 29, Jefferies said the initial success of OpenAI had served as a wake-up call for US Big Tech, highlighting the threat of disruption and prompting a sharp increase in capital expenditure. It added that hyperscalers appeared increasingly willing to exit their traditional moats and move away from asset-light business models as they converged on the same opportunity set.
However, Jefferies said the narrative was shifting, noting that OpenAI was no longer seen as the sole disruptive force.
“The evidence continues to grow that OpenAI is losing the corporate market to Anthropic’s Claude,” Jefferies said. “Anthropic’s AI coding tool, Claude Code, was publicly launched only in May last year and reached $1 billion in annualised recurring revenue by November. With such performance, it is no wonder that estimates of Anthropic’s value are surging.”
The brokerage added that Anthropic was reportedly set to raise about $20 billion from investors in its current funding round, doubling the amount previously targeted. This would value the company at around $350 billion, up from an estimated $183 billion last September and $61.5 billion in March 2025.