Why Indian & global IT giants are witnessing significant stock declines

The launch of Anthropic's new AI model has hit the global and Indian IT stocks, including giants like Infosys and Accenture. Investors are concerned and worries about the intensified competition from AI, leading to a market sell-off and causing the Nifty IT index to drop sharply.

New Delhi: The entry of Artificial Intelligence (AI) has badly affected the IT giants. After AI startup Anthropic launched its new model, investors resorted to selling in global tech giants such as Cognizant and Accenture. The impact was also seen in the Indian stock market. On 18 February 18 (Wednesday), the shares of Indian IT companies declined due to fear of AI.

After falling last week,........

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