Thomson Reuters Stock Soars 12% as CoCounsel AI Tool Reaches One Million Users Across 107 Countries

Thomson Reuters Stock Rallies After CoCounsel Milestone

Thomson Reuters shares soared 12% on Tuesday after the company announced that CoCounsel, its AI-powered legal tool, has reached one million users across 107 countries and territories 1

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. The Toronto-based company's stock notched its biggest intraday gain since 2009, climbing as much as 14% during trading to C$124.61 1

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. The surge provided much-needed relief for investors after Thomson Reuters stock had lost more than half its value since hitting an all-time high of C$293.53 in July, weighed down by disappointing sales growth and fears of AI disruption 1

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AI Tool Gains Recognition from Anthropic

The rally gained momentum after Anthropic publicly acknowledged that Thomson Reuters was using its AI technology for products like CoCounsel 2

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. Thomson Reuters CEO Steve Hasker presented at an Anthropic-hosted briefing where CoCounsel was touted on stage 1

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. The company confirmed it works with multiple AI platforms, including Anthropic's Claude model, OpenAI's GPT, and Google Gemini 1

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. This endorsement comes weeks after Anthropic unveiled a legal AI tool plug-in for its agentic Claude Cowork platform on February 3, which had initially triggered an $830 billion global selloff in software and services stocks over six trading days 2

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Legal Professionals Embrace Agentic AI Capabilities

CoCounsel serves as the core AI engine powering generative and agentic capabilities across Thomson Reuters' legal, tax, accounting, audit, risk, compliance and corporate solutions 4

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. The AI assistant automates research, document review and drafting for legal professionals, integrating with established programs such as Westlaw, Practical Law, and Microsoft 365 3

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. Thomson Reuters launched CoCounsel after acquiring AI legal startup Casetext in a $650 million deal in 2023 2

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. The company emphasized that reaching one million users marked a shift from "experimentation to production" 1

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Proprietary Legal Data Provides Competitive Edge

Steve Hasker stressed that Thomson Reuters' "fiduciary-grade AI strategy is driving real adoption" and that the company has "the capital, content, and expertise to shape what comes next" 2

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. Thomson Reuters executives highlighted that their legal offerings stand apart from general-purpose AI startups through proprietary legal data including hundreds of years of legal papers from Britain and more than a century of archives from the U.S., much of it undigitized or unavailable publicly 2

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. CoCounsel analyzes licensed content refined over 175 years and incorporates expert-developed validation logic to deliver citation-backed outputs 4

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Customer Data Privacy Remains Protected

Addressing concerns about customer data privacy, Hasker stated that "professionals are not deciding whether to use AI anymore. They are deciding which AI they trust when their reputation and their clients' data are on the line" 3

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. The company emphasized that CoCounsel incorporates data boundaries and does not repurpose customer inputs to train third-party models or generate outputs for other users 4

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. This commitment to keeping customer data protected distinguishes CoCounsel in a market where trust matters as much as technical capability.

Market Sentiment Shifts on AI Software Stocks

The rally reflects broader market sentiment swings between AI optimism that the technology will accelerate stock market growth and pessimism that AI will dismantle business models, particularly for software service companies 1

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. National Bank Financial analyst Adam Shine, who rates Thomson Reuters stock as outperform with a C$175 price target, noted that "it will likely take more time and understanding for the market to better assess how the company continues to benefit from AI" 1

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. Despite Tuesday's gains, Thomson Reuters shares remain down more than 30% for the year 2

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Legal Division Drives Revenue Growth

The Legal Professionals division serves as the biggest revenue generator for Thomson Reuters, accounting for approximately one-third of its sales 2

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. The company grew adjusted earnings 4% in 2025 and achieved organic revenue growth of 7%, with guidance pointing to solid growth in 2026 3

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. Thomson Reuters stock currently trades around 27 times trailing earnings, well below its five-year average 3

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. According to PYMNTS Intelligence research, among U.S. businesses bringing in at least $1 billion annually, the share of companies just considering agentic AI plunged from 52% in August to 30% in November, signaling that "the debate over whether enterprises should use agents is over" 4

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