WSJ Tech News Briefing

Episode: TNB Tech Minute – Walmart Reaches $1 Trillion Market Cap From Online Business And AI

Date: February 3, 2026
Host: Julie Chang (Wall Street Journal)

Overview

This Tech Minute episode focuses on Walmart reaching a $1 trillion market cap, a historic milestone for a traditional retailer, and explores the significant role of its online business and AI investments. The episode also touches on how Anthropic’s new AI tools are shaking up European legal publishing stocks and impacting market data giants.

Key Discussion Points & Insights

Walmart’s $1 Trillion Market Cap Milestone

• Historic Achievement:

  • Walmart becomes the first traditional retailer to reach a $1 trillion market capitalization, typically a feat reserved for technology companies.
  • [00:22] “Walmart has hit a market capitalization of $1 trillion, becoming the first traditional retailer to reach this milestone.” — Julie Chang

• Drivers of Growth:

  • A surge in Walmart stock attributed to investor confidence in Walmart’s expansive online business and its adoption of automation and artificial intelligence.
  • [00:34] “Walmart's stock has surged in recent months, fueled in part by Wall Street's enthusiasm for growth in the company's online business as well as its investments in automation and AI.”
  • The retailer’s ability to attract shoppers seeking “low prices, fast delivery and broad selection.”

• Significance in Tech Industry Context:

  • Of the 11 companies to ever hit the $1T mark, most are tech-focused, highlighting Walmart’s singular position as a retail giant leveraging technology to achieve this valuation.

Anthropic’s AI Tools Disrupt Legal Publishing Sector

• Anthropic’s Expansion:

  • Release of new AI-powered tools via Cowork Assistant on GitHub, designed to automate legal industry tasks (contract reviews, compliance workflows, legal briefings).
  • [00:51] “Anthropic added new functions for users of its cowork assistant on GitHub. The company said the new tools can automate legal tasks such as contract reviews, compliance workflows and legal briefings.”

• Market Reaction:

  • Major European legal publishing and software companies saw sharp stock declines:
    • Relx (Lexis AI): Shares down about 15%
      • [01:01] “London-listed Relx, which provides AI tools for the legal sector, including Lexis AI software, saw its shares drop about 15%.”
    • Wolters Kluwer: Shares down over 12%
      • [01:07] “And Vaulter's Kluver, which provides software products for the legal industry, is down over 12%.”
  • The negative impact quickly spread to market data heavyweights:
    • S&P Global: Largest percent decrease since March 2020; recently down about 11%
      • [01:12] “S and P Global was on pace for its largest percent decrease since March 2020. Its stock was recently down about 11%.”
    • FactSet: Recently down 10%
      • [01:18] “Meanwhile, FactSet, a provider of financial information and analytics, was recently down 10.”

Notable Quotes & Memorable Moments

• On Walmart’s transformation:

  • “Walmart's stock has surged in recent months, fueled in part by Wall Street's enthusiasm for growth in the company's online business as well as its investments in automation and AI.”
    — Julie Chang [00:34]

• On AI’s disruptive impact:

  • “Anthropic added new functions for users of its cowork assistant on GitHub. The company said the new tools can automate legal tasks such as contract reviews, compliance workflows and legal briefings.”
    — Julie Chang [00:51]

Timestamps for Important Segments

• 00:18: Episode intro and Walmart’s achievement
• 00:22: Walmart crosses $1 trillion market cap
• 00:34: Factors behind Walmart’s stock surge
• 00:46: Tech industry context of $1 trillion companies
• 00:51: Anthropic AI tools release and features
• 01:01: Stock market impact on Relx and Wolters Kluwer
• 01:12: Broader market ramifications (S&P Global, FactSet)

Tone

Direct and informative, with a brisk pace characteristic of a news digest. Julie Chang delivers facts succinctly, emphasizing the significance of Walmart’s achievement and the ripple effects of Anthropic’s technology in the legal and financial news sectors.

For listeners who missed it:
This brief yet dense episode captures a pivotal moment for retail and underscores how AI advancements are rapidly reshaping adjacent industries, from legal publishing to financial analytics.