Thomson Reuters CEO Steve Hasker addressed recent stock volatility that caused the company's market value to fluctuate by billions of dollars. Analysts labeled the turbulence a SAASacre, citing investor uncertainty regarding the impact of artificial intelligence on the legal technology sector.
The volatility included a sharp sell-off following Anthropic’s release of a new AI assistant. Prices recovered after Thomson Reuters announced a strategic integration with the AI firm.
Hasker stated the market is mispricing the company and confirmed Thomson Reuters is developing its own proprietary AI foundation model. He views the current downturn in software valuations as an opportunity to acquire quality companies at a discount.