Shares of Thomson Reuters Corp fell 3.2% to $145.42 on Tuesday, extending losses from the session’s opening price of $147.88 and approaching an intraday low of $144.50.
The decline followed Google’s announcement of a new enterprise platform, Gemini Enterprise for Legal, designed to automate routine and complex legal tasks using AI agents with minimal human oversight. The platform integrates with legal technology providers, including Thomson Reuters’ HighQ collaboration platform, Harvey, and LexisNexis, positioning Google as a direct competitor in the legal AI market.
Thomson Reuters countered with the launch of Thomson 1.0 on Monday, a proprietary language model trained on content from Westlaw, Practical Law, Checkpoint, and Reuters. The company has invested $40 million in talent and computational infrastructure to develop the model, yet the market reaction suggested investor concern over the pace and cost of competition against large technology firms.
The broader U.S. market showed resilience, with the S&P 500 rising 0.3% and the Nasdaq advancing 0.6% during the same session. The contrasting performance underscored the competitive pressure facing Thomson Reuters as it navigates a rapidly evolving AI-driven legal technology landscape.
