AI scare trade wipes $56B from India's IT stocks since Claude Cowork launch

Indian tech services stocks including TCS and Infosys have shed $56B in market value since Anthropic released Claude Cowork plugins. The selloff in Indian tech firms has stood out in Asia, where large hardware industries are seen as indispensable to the AI ecosystem. Investors bullish on India's tech services see the selloff as a buying opportunity for companies able to survive the disruption predictions. The decline contrasts with massive AI investment announcements at the concurrent India AI Summit.

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