Anthropic’s COBOL tool triggers worst single-day drop in 25 years in IBM's stock price: What it is and why it wiped billions of dollar for IBM

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

IBM's stock heads for worst month in 34 years - and Anthropic is partly to blame

IBM's stock ended Monday as the worst-performing member of the S&P 500 following a disruptive AI announcement from Anthropic. International Business Machines' stock is the latest big software loser ...

When AI learns legacy: How code that rewrites itself is changing IT economics

On 23 Feb 2026, IBM shares dropped 13%, losing nearly $30B, after Anthropic's Claude AI promised faster COBOL modernization, threatening legacy IT services dependent on scarce expertise.

IBM falls most since 2000 after Anthropic COBOL AI claims; Thomas says translation isn’t modernization

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...
Technobezz on MSN

IBM Stock Plunges 13% After Anthropic AI Challenges Core Business

IBM's market value drops $25 billion as AI threatens its lucrative COBOL modernization business, sparking a historic stock decline..