Australia’s biggest software company Atlassian is among a group of tech giants under threat from the rapid advance of artificial intelligence agents, as a new product from Anthropic sent shockwaves through software stocks.
Nasdaq-listed Atlassian’s shares have tumbled 16 per cent since OpenAI rival Anthropic launched Cowork on January 12. Its potential to disrupt traditional software makers has unnerved investors in companies including Salesforce, ServiceNow, SAP and Adobe, while Atlassian is facing questions about how Cowork could change the jobs of the software developers who use its core products like Jira and Confluence.
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