Q&A Details

Claude: How does the economics work on this for Morningstar and its customers? In the early days, how have initial signs been on this partnership as a customer acquisition tool for Morningstar or PitchBook? How significant do you think this could be over time?

September 26, 2025

We continue to develop our relationships with AI platforms such as Claude as we iterate on models that can drive the best blend of usage and pricing. This integration is designed to complement and amplify the capabilities of Morningstar Direct and offers licensed users a convenient, conversational way to get quick answers and access our data while working within an AI environment. We have already seen opportunities to support our clients’ AI strategies through collaborations like this. We anticipate the trend will accelerate and we are exploring new ways to add value and offer access to a broader customer base, including offering trial access to AI-enabled solutions.