Thomson Reuters shares rally after CoCounsel AI tool draws 1 million users

The Thomson Reuters logo is displayed on the company’s building in Times Square, New York City · Reuters

Reuters

Wed, February 25, 2026 at 6:40 AM GMT+9 2 min read

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Feb 24 (Reuters) - Thomson Reuters shares jumped more than 11% on Tuesday after the technology and content firm said its artificial intelligence-powered assistant ‌for businesses, CoCounsel, has drawn one million users, easing fears of ‌disruption by competing AI tools.

The stock posted its biggest percentage gain since 2009. The jump also ​followed Anthropic’s announcement on Tuesday that companies including Thomson Reuters were using its AI technology for their products.

A new AI tool from Anthropic that embeds its Claude AI model into legal workflows had earlier this month sparked an $830 billion global selloff ‌in software and services ⁠stocks over six trading days on investors’ fears that the technology would shrink revenue streams for the industry. Weighed down by ⁠that decline, Thomson Reuters shares remain down more than 30% for the year.

“The legal AI market is maturing, and substance matters more than hype. Our fiduciary-grade AI strategy ​is ​driving real adoption - and we have the ​capital, content, and expertise to shape ‌what comes next,” Thomson Reuters President and Chief Executive Officer Steve Hasker said in an emailed response to a query about the stock price move.

The Toronto-based company, which owns Reuters News, launched CoCounsel after buying AI legal startup Casetext in a $650 million deal in 2023. The assistant acts as the core AI ‌engine powering CoCounsel Legal, which automates research, document ​review and drafting for lawyers.

Thomson Reuters executives told ​Reuters after the company’s quarterly ​earnings announcement this month that its legal offerings were distinguished ‌from general-purpose AI startups by the ​company’s proprietary intellectual property, ​including hundreds of years of legal papers from Britain and more than a century of archives from the U.S., much of it undigitized, unpublished ​or unavailable publicly.

The Legal ‌Professionals division is the biggest revenue generator for Thomson Reuters, accounting ​for around one-third of its sales.

(Reporting by Aditya Soni in Bengaluru; ​Editing by Kenneth Li and Edmund Klamann)

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