Nasdaq100 Technical Analysis in February 2026 & Major Tech Updates: Anthropic Raises AI Concerns!

AI Disruption Hits Software Stocks After Anthropic Unveils Advanced Automation Tools

Financial markets saw a large dip on Tuesday driven by investor fears of future AI effects on businesses. Wall Street woke up to new fears of AI impacting traditional software companies after Anthropic launched new tools for its Claude Cowork product to automate legal work, sales, and data analysis. This news led investors to devalue many software stocks.

Many view this movement in AI development as detrimental to the challenges facing traditional tech companies as AI becomes a serious core business model. Experts point out that AI has begun to redefine software as a fundamental service for revenue generation for many companies.

These fears are coinciding with large tech companies releasing earnings, including Meta, Apple, Alphabet, and Microsoft, with the latter reporting a huge loss of $400 billion after announcing business results that highlighted concerns about revenue generation compared to large capital expenditures in AI.

NVIDIA’s CEO Downplays AI Fears as Nasdaq100 Slides Ahead of Major IPOs

For his part, Jensen Huang, CEO of Nvidia, confirmed that concerns about AI bubble are exaggerated, emphasizing that AI will continue to rely on existing software rather than rebuilding basic tools from scratch and that AI will not cause a decline in software but will gradually transform it into more effective and efficient tools.

This development aligns with broader trends such as the Big Tech AI Spending in 2026, where rising AI budgets played a major role in shaping market sentiment this year.

As for stock indices, tech stocks led the major drop, with the Nasdaq 100 shedding 1.4% and the index Composite falling as well. However, the Nasdaq index is still awaiting a critical year ahead with important IPOs to take place, including those of Anthropic, SpaceX, and OpenAI, which are expected to have a significant impact on the trajectory of financial markets and the tech sector in particular.

Technical analysis of the Nasdaq Technology Index - February 2026

Nasdaq 100 Current level February 2026

The Nasdaq index continues its horizontal stability extending for more than 3 months, and this horizontal path has a resistance zone illustrated in the attached chart with an upper limit near the 26,200 level, where prices continue their sharp fluctuations up and down as investors continue to avoid tech sector risks and concerns about an AI bubble.

Therefore, forecasts indicate as per analysts and, according to what the attached chart shows, the continuation of these horizontal fluctuations without a clear direction until the resistance is breached or the support of that horizontal path is broken.

Nasdaq100 - TradingView