Shares of the content and technology company. Thomson Reuters Corp. (NASDAQ:TRI) traded almost 12% higher today, at 11:42 a.m. ET. In a press release, the company announced that 1 million legal professionals are now using its AI-powered legal solution, CoCounsel.
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Thomson Reuters shares have been battered over the past year, falling almost 49%. The company has been part of the software sell-off, driven by concerns that AI could recreate software solutions much more quickly and using far fewer resources.
Today, Thomson Reuters announced that its artificial intelligence legal assistant, CoCounsel, is gaining traction. The tool can be used to conduct deeper research into legal matters, speed up litigation work, and integrate with programs frequently used by legal professionals, such as Westlaw, Practical Law, and microsoft 365.
In the press release, Thomson Reuters said CoCounsel leverages content refined over 175 years and relies on “expert-developed validation logic.”
“Professionals are no longer deciding whether to use AI. They are deciding which AI to trust when their reputation and their clients’ data are at stake,” Thomson Reuters President and CEO Steve Hasker said in a statement, emphasizing that client data remains protected.
Interestingly, Thomson Reuters shares fell sharply after Anthropic announced new artificial intelligence tools for legal professionals earlier this month. Now, the stock is rising due to the success of one of its artificial intelligence solutions.
Investors will be tempted to buy the dip in software stocks, but it’s important to look for those that adapt to the changing times. Thomson Reuters is clearly adapting. However, the stock currently trades around 27 times trailing earnings.
That’s well below its five-year average. The company grew adjusted earnings 4% in 2025 and had organic revenue growth of 7%. It’s a guide to solid growth in 2026, but investors will need to determine the right multiple in a world where AI can break down barriers to entry.
I’m not entirely sure what that is in this new world, so the market might need time to digest companies in this position.
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