Shares of DocuSign (DOCU) are sliding on Tuesday after Microsoft (MSFT)-backed OpenAI launched DocuGPT, an agent that converts contracts into structured, searchable data. Bloomberg Intelligence’s Anurag Rana and Andrew Girard say DocuGPT could “emerge as a new competitor to DocuSign’s agreement-management business,” which is a key growth driver. DocuSign has dropped about 11% to $73.22 in afternoon trading.
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