00:00Anthropic, they've just ended a live stream where they unveiled new AI tools for Claude.
00:04Shares of Intuit, Salesforce, Spotify, DocuSign, all of them move on just a mere mention.
00:09Spotify, I know you're looking at it down.
00:11It had spiked and then it gave up some of those gains.
00:13Let's get an update from Bloomberg Tech's Ed Ludlow.
00:16Ed, it was remarkable to watch them mention the stock and pull up a GIP on the terminal
00:21and just see the thing spike up, be it any of those companies.
00:24What had Anthropic actually talked about?
00:26What new information did we glean from the latest news out of the company?
00:31Yeah, so Anthropic differently to OpenAI started trying to sell first its model and then tools-based products into Enterprise.
00:39And what they're basically saying across all of those companies, because they all do something very different,
00:44is instead of providing an agentic AI solution that's principally focused on coding,
00:49they're basically offering a platform where whatever it is that that company does,
00:53they can take the agentic platform and use it how they see fit.
00:57In the Spotify case, which is kind of interesting, it's very much like internally focused.
01:02So Spotify would use the underpinnings for essentially like reducing engineering time,
01:09which is true to Claude and Claude's previous work in code.
01:13In Intuit's case, for example, very different.
01:16It's about providing a specific agentic tool directly to a small or medium-sized business or to a consumer.
01:23It is not yet the tax quarter technically, although we're kind of in it.
01:27But, you know, in simple terms, you go onto Intuit's platform, an agent pops up, and you can customize it.
01:33You can interact with it using whatever the underpinnings of Intuit's platform are to do tax and other accounting-based
01:40operations.
01:41And it's pretty simple.
01:42The last thing I'd add to it is, like, this is a series of events that Amphrobic's holding.
01:47They had a healthcare-related one in January where we saw something similar in that sector.
01:51But when OpenAI had its dev day in the middle of last year, the market's reacting exactly the same way.
01:55It's partly name-check association more than anything else.
01:58And, you know, I'm always interested in terms, and these are, as you just outlined, you know,
02:02very different kinds of partnerships, very different kinds of cooperations.
02:07But do we have any detail on whether, for example, would Intuit pay Anthropic in order to use these services
02:16on its platform,
02:17or does Anthropic get access to data that's also valuable?
02:21Like, how are these deals shaping up?
02:24Yeah, so the words that they use are partnerships.
02:26They don't disclose any financials, and that's why I put emphasis on the stock reaction being on a name-check
02:32basis.
02:33You know, like, in parallel, like when we talked about OpenAI and dev day, it's basically API access.
02:40You just integrate that core program into your existing software suite and vice versa.
02:44But revenue sharings don't know.
02:47It's a really good question.
02:48A lot of people are debating in Silicon Valley right now in the software space on the business model.
02:53If you're Anthropic and you have, like, infinite demand for your technology, do you charge people based on consumption,
03:00what they actually use, on a per-desk basis because you have a large enterprise customer, or on a subscription
03:06basis?
03:07And, you know, Anthropic is used to doing this.
03:09That's where they've had success early in doing business with those size of companies.
03:14Ed, just kind of the feeling I'm getting from you is, like, Anthropic as a kingmaker or a breaker,
03:21whether they're replacing something or saying to a company, come along with us and we'll get you there.
03:26That feels different than what OpenAI is doing.
03:28It's something that you just mentioned.
03:30Is this a really big threat to OpenAI and chat GPT, just this wide net that Anthropic is now casting?
03:38Yeah.
03:38It's like there are, like, 19 BFWs on the terminal and the stocks that are reacting to this.
03:43It's hard to summarize it into one.
03:44But is software being rendered obsolete or is it being improved?
03:48You know, I know this was yesterday, but IBM dropping by the most since 2000.
03:52People don't come to appreciate how obscure that was.
03:55COBOL is a software or programming language that was invented in 1959.
04:00There are 200 billion lines of COBOL code that basically underpin financial systems, banks, payments, et cetera.
04:08And all Anthropic said is that you can use Claude to untangle, to rewrite, to track that code base.
04:17And the COBOL code base, 200 billion lines of it, it's stored on IBM mainframes.
04:22It's just like legacy architecture software.
04:24All they said was we have made something useful that can help you keep track of this.
04:29And the stock fell by the most since 2000 and wiped out $32 billion of market cap.
04:34And if you operate in the world of software, what I just said will kind of resonate with you.
04:38I don't know if that answers your question, Danny, but, like, for a lot of people, it's like, let's look
04:42at...
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