AI Threatens a Wall Street Cash Cow: Financial and Legal Data

For years it seemed like a surefire business model: amass vast troves of financial data and sell it to Wall Street for a premium. Then Claude came along.

Shares of companies such as S&P Global, MSCI, Intercontinental Exchange, London Stock Exchange Group and FactSet Research Systems all tumbled this week after fast-growing artificial-intelligence startup Anthropic unveiled a new suite of tools for automating legal tasks...