I'm Watching These 2 SaaS Stocks While Everyone Else Panics About AI

2026-01-20 09:00:00 ET

Software-as-a-service stocks sold off last week, apparently in reaction to Anthropic launching a preview of its new Cowork feature. Cowork essentially takes Claude Code, Anthropic's red-hot AI coding assistant, and generalizes it for non-coding tasks. Cowork can read and write files on a user's computer directly, search the web, and complete a variety of tasks. Cowork appears to be a meaningful step forward toward a true digital assistant.

Image source: Getty Images.

Fears about AI disrupting the software industry are not new. Microsoft CEO Satya Nadella remarked in late 2024 that "SaaS is dead." In late 2025, IDC predicted that the standard per-user, per-month pricing for SaaS applications would be obsolete by 2028, with 70% of software providers forced to switch pricing models. Cowork is a preview of what might be possible in the future, with AI agents interacting directly with applications and data, rather than the user.

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