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Microsoft stock drops 2%
Microsoft shares fell nearly 2% after reports that Anthropic is preparing to launch AI-powered productivity tools, including Claude Sheets, which would compete with Excel and Google Sheets, a video-call assistant, and a dashboard tool. Anthropic said its services are still in their early stages and do not yet support highly complex financial models. The news comes as Microsoft has participated in a $26 billion private funding round for Anthropic. The company is expected to pursue an IPO at a valuation of around $1.4 trillion, and reported annual revenue of $81 billion at the end of October.
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