Thomson Reuters Climbs as CoCounsel Hits 1 Million Users Amid AI-Driven Fears
By Adriano Marchese
Thomson Reuters shares jumped Tuesday morning after the company said its legal-and-compliance platform, CoCounsel, has surpassed 1 million users at a time when fears about artificial intelligence have weighed heavily on software stocks.
Shares trading in Toronto were 11% higher at 122.50 Canadian dollars.
The information-and-technology company said it has reached the 1-million mark for professionals spanning over 100 countries that are subscribed to the CoCounsel platform.
CoCounsel is Thomson Reuters's professional-grade AI assistant for legal, tax, audit and compliance work, which handles regulated professional tasks with verified, citation-backed outputs.
Earlier in February, Anthropic, the maker of Claude AI, revealed a new legal-automation tool that sent fears that it could potentially encroach on Thomson Reuters's core contract-review and workflow-software business. Soon after, Chief Executive Steve Hasker in a call tried to sooth investors by saying he sees no evidence that AI is undermining its business.
The stock has lost about 20% since then.
On Tuesday, Hasker doubled down on the importance of the company's proprietary content, data and expertise as fundamental to professionals, downplaying fears that AI could supplant its current offerings.
"[CoCounsel] is grounded in decades of authoritative content, validated by domain experts, and backed by a clear commitment that customer data remains theirs," he said Tuesday.
The company also said CoCounsel Legal is entering beta soon. The update is designed around conversational task execution, and the software will use Thomson Reuters's proprietary services of Westlaw and Practical Law to deliver structured work product within a single system, the company said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 24, 2026 10:53 ET (15:53 GMT)
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