Microsoft Shares Fall Up to 3% as Anthropic Unveils Office Productivity Suite

Microsoft shares dropped nearly 3% on Tuesday after AI startup Anthropic announced a new suite of workplace productivity tools targeting territory dominated by Office 365 and Copilot. The rollout features beta releases of Claude Sheets—positioning itself against Microsoft Excel and Google Sheets—and Claude Whiteboards, alongside the general availability of Claude Dashboards. Anthropic is also allowing third-party software integrations from firms like Adobe, Atlassian, and HubSpot. The competitive expansion comes ahead of Anthropic's planned IPO, where it targets a $1.4 trillion valuation after reaching an $81 billion annualized revenue run rate as of October 31.