IT stocks slump amid fears of Anthropic’s new AI tools

IT stocks tumbled on Wednesday after a US-based Artificial Intelligence (AI) firm, Anthropic, released a new set of AI tools for corporate legal teams. Infosys’ shares slumped over 7 per cent, in-line with heavy selloff in tech companies in the US.

Shares of Infosys plunged 7.19 per cent, Tata Consultancy Services tanked 6.95 per cent, LTIMindtree dropped 5.51 per cent and Hexaware Technologies tumbled 4.98 per cent on the BSE. The stock of Persistent Systems edged lower by 4.69 per cent, HCL Technologies declined 4.22 per cent, Tech Mahindra lost 4.12 per cent, and Wipro fell by 3.73 per cent.