Shares of Thomson Reuters Corp fell 3.2% to $145.42 on Tuesday, retracing from an intraday peak of $147.88 to a session low of $144.50.
The decline came as Alphabet’s Google introduced Gemini Enterprise for Legal, a platform designed to automate routine and complex legal tasks using AI agents with minimal human oversight. The service integrates directly with legal technology providers, including Thomson Reuters’ HighQ collaboration platform, as well as competitors Harvey and LexisNexis.
Thomson Reuters countered on Monday by unveiling Thomson 1.0, a proprietary large language model trained on proprietary content from its Westlaw, Practical Law, Checkpoint, and Reuters libraries. The company invested $40 million in developing the model, emphasizing its specialized training on legal and regulatory data.
U.S. equity benchmarks advanced modestly, with the S&P 500 up 0.3% and the Nasdaq gaining 0.6%. The broader market’s upward momentum did not offset investor concerns over Google’s competitive entry into Thomson Reuters’ core legal services market.
