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Shares of Workday Inc. tumbled nearly 10% in premarket trading on Wednesday after the human resources and payroll software maker issued a weaker-than-expected revenue forecast, raising concerns about slowing demand.

The California-based company has already seen its stock decline by about 40% on Nasdaq so far this year as investors grow wary of increasing competition from artificial intelligence-driven tools.

Anthropic's recent launches has fueled fears that automation could erode demand for traditional software platforms, causing a widespread sell-off across different sectors such as cybersecurity. (This is an evolving story. Check for updates)Eshita is a digital journalist at Mint, where she joined in May 2025. She covers business, corporates, finance, and business trends.

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