The value of Sydney-based software giant Atlassian has fallen to $US15.6 billion ($21.9 billion) after a new product release from Anthropic extended the stock’s losing streak, which has wiped nearly $7 billion each from the fortunes of the company’s founders, Mike Cannon-Brookes and Scott Farquhar.

Shares in Atlassian were trading at $US153 at the start of the year but have fallen more than 60 per cent, over concerns that the rise of AI-powered coding tools will lead to fewer software developers using its products and that its software could be easily cloned by users with little technical skill.

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