Tech & AI
Anthropic launches Claude Sheets to compete with Microsoft Excel
Anthropic unveiled Claude Sheets, a spreadsheet app built to rival Excel, and Microsoft shares fell on a day most big tech stocks rose.
Quick Read
- Anthropic introduced Claude Sheets, an Excel rival, along with new meeting and whiteboard tools.
- Microsoft shares slid on Wednesday while the tech sector fund and the Nasdaq-100 rose.
- The drop was a small dent for a broad fund of large U.S. companies, and the S&P 500 still gained on the day.
- Whether businesses actually switch from Excel is something the launch alone cannot show.
What did Anthropic launch?
Anthropic introduced Claude Sheets at an event in San Francisco on Tuesday, the company said. It is a spreadsheet app built around Claude, Anthropic's AI assistant, and it goes after the work people do in Microsoft Excel.
Why it matters: Anthropic also showed tools for meetings and for digital whiteboards, the shared boards teams use to sketch out ideas. Together, the new tools reach into the office software Microsoft (Nasdaq: MSFT) sells to businesses.
How did Microsoft stock react?
Microsoft slid 2.3% on Wednesday, closing at $521.13. The drop took $89 billion off the company's market value, which ended the day at $3.9 trillion.
The decline stood out against the rest of tech. The technology sector fund (XLK) rose 3.2%, and the Nasdaq-100 jumped 2.3%. Alphabet (Nasdaq: GOOG) gained 2.0%.
How big is the hit for a shareholder?
On $100,000 held in Microsoft shares, Wednesday's drop cost $2,260. The stock now sits 6.3% below its 52-week high of $555.95.
The longer view is calmer. A $1,000 stake in Microsoft bought a year ago is now worth $1,024.
For a broad fund, the effect was small. Microsoft makes up 4.3% of the combined value of the 500 largest U.S. companies, so its drop took $97 from $100,000 spread across them by size. The S&P 500 still rose 1.3%.
What is still unknown?
The other side: A product launch does not show whether businesses will move their work off Excel. The open question is how many companies try Claude Sheets, and whether they drop Microsoft's tools or run them side by side. Microsoft's next quarterly results could give a clearer read on demand for its office software.
For readers
What it could mean for you: If you own Microsoft shares directly, the full move lands on you, with no other holdings to cushion it. Anthropic's new spreadsheet, meeting and whiteboard tools go after the kind of office software businesses pay Microsoft for. If companies start testing Claude Sheets in place of Excel, the stock could keep reacting to each sign of that shift. Microsoft's next quarterly report may show whether its paying business customers stayed with Excel.
Questions and answers
What is Claude Sheets?
Claude Sheets is a spreadsheet app from Anthropic, built around its Claude AI assistant. Anthropic unveiled it at an event in San Francisco as a rival to Microsoft Excel.
Why did Microsoft stock fall?
Microsoft fell the day after Anthropic launched tools that compete with Excel and other Microsoft workplace software. The drop came while the technology sector and the Nasdaq-100 rose.
Does the Microsoft drop affect S&P 500 funds?
Broad stock funds hold Microsoft in proportion to its size, so its moves reach them only in part. On Wednesday, gains in other stocks more than made up for it, and the S&P 500 rose.
The numbers
| Microsoft (MSFT) price | $521.13 |
|---|---|
| Microsoft (MSFT) change | −2.26% |
| Microsoft (MSFT) market value | $3.9 trillion |
| Microsoft (MSFT) 52-week high | $555.95 |
| Alphabet (GOOG) price | $290.63 |
| Alphabet (GOOG) change | +2.00% |
| Alphabet (GOOG) market value | $1.6 trillion |
| Alphabet (GOOG) 52-week high | $399.04 |
| S&P 500 change | +1.31% |
| 10-year Treasury yield | 4.98% |
Wednesday’s close
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