Microsoft stock falls more than 2% as Anthropic launches Claude Sheets and Meetings before its IPO

The Microsoft stock drop on Tuesday 10 November, a fall of more than 2%, came after Anthropic launched Claude Meetings, Claude Whiteboards, Claude Sheets and Claude Data, Yahoo Finance reported. The tools take aim at Excel and the rest of Microsoft 365, and they arrived as Anthropic began the roadshow for an IPO that could value the company at up to $1.4 trillion.

What happened

Yahoo Finance technology editor Daniel Howley wrote on Tuesday that Claude Meetings can join video calls, follow the conversation, answer questions in the meeting chat and pull information from connected apps. Claude Whiteboards builds timelines and lists of responsibilities as a team plans. Claude Sheets builds a spreadsheet from information a colleague is working on, and Claude Data pulls figures from different platforms and presents answers as videos, written summaries or dashboards.

Anthropic is also adding interactive connectors that bring Claude into full versions of third-party software, Yahoo Finance said. Investing.com, citing Bloomberg, reported that Adobe, Atlassian and HubSpot are among the companies embedding versions of their apps inside Claude.

TipRanks reported that Claude Sheets creates spreadsheets from plain-language descriptions, edits individual cells, shows what changed and saves files in Excel format, and that all three new tools are included in paid Claude plans. Investing.com said Anthropic product leader Nicholas Lin told Bloomberg that Claude Sheets is not built for sophisticated financial modelling and is still a relatively basic product.

Yahoo Finance said Microsoft shares fell more than 2% on the news, while Investing.com put the drop at around 2% on Tuesday. Neither report gave a closing price.

Key numbers

• More than 2%: Microsoft’s fall on Tuesday, according to Yahoo Finance.
• $27.8 billion: Microsoft 365 cloud revenue in the September quarter, about 30% of the company’s $92.3 billion total, according to TipRanks.
• $33.2 billion: Anthropic’s revenue for the first nine months of 2026, up from $2.5 billion a year earlier, according to TipRanks.
• $81 billion: Anthropic’s revenue run rate at 31 October, up $10 billion from the end of September, according to its IPO filing as reported by Investing.com.
• $1.4 trillion: the top of the valuation Anthropic is seeking, with a listing expected on 19 or 20 November, according to Yahoo Finance.

Why Claude Sheets matters to Microsoft 365

Microsoft is not only a rival here. TipRanks reported that Anthropic agreed in November 2025 to buy $30 billion of Azure computing capacity over time, and that Anthropic’s IPO filing shows Microsoft plans to buy about $1 billion of its shares in a private placement. Investing.com said the placement totals $26 billion and also includes Google, Nvidia and AMD.

Anthropic’s enterprise products have rattled software investors before. Yahoo Finance noted that Anthropic’s enterprise offerings have contributed to earlier software selloffs, with Salesforce, ServiceNow and Intuit falling earlier this year. Microsoft has been adding AI to Office through its Copilot platform, Investing.com said, and Microsoft 365 commercial cloud revenue grew 17% year over year, TipRanks reported.

Founders in Frame covered the Anthropic IPO price range of $70 to $78 a share on 10 November. The company is led by CEO Dario Amodei, and the launch lands in two of the fastest-moving parts of the market, artificial intelligence and technology and software.

What analysts say

Analysts still lean positive on the stock. TipRanks data shows 35 Buy and four Hold ratings over the past three months and an average price target of $632.48, which it says implies 18.5% upside. Anthropic’s own message is cautious: it says Claude Sheets has only basic features and cannot yet replace all of Excel, TipRanks reported.

What happens next

Anthropic is expected to list on 19 or 20 November, according to Yahoo Finance, so the next test for the Microsoft stock drop comes within days. Investors will watch whether Claude Sheets and Claude Meetings pull paying users away from Excel and the rest of Microsoft 365, or whether Microsoft’s 17% Microsoft 365 growth holds in its next quarterly report.