Anthropic's AI tool Claude's ability to modernize Cobol code caused IBM shares to plummet, wiping out billions in market cap.

International Business Machines Corporation stock plunges; downgrade IBM to Hold as Anthropic's Claude Code threatens ...

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The ...

IBM shares tumbled after Anthropic blogged about how Claude Code could help businesses modernize legacy systems that use an ...

COBOL is a computer language used for business data processing and IBM is a leader in that area.

IBM Share Price Drop: "Modernizing a COBOL system once required armies of consultants ⁠spending years ‌mapping workflows.

International Business Machines Corporation is now rated a Buy as the recent AI-driven selloff has created a compelling valuation opportunity. Learn more about IBM stock here.

A single Anthropic blog claiming its AI model Claude can read and modernise COBOL wiped nearly $30 billion off IBM’s market ...

IBM shares are climbing on Tuesday, but not enough to compensate for sharp Monday declines experienced in the wake of an Anthropic product announcement. Shares of IBM tumbled 13.2% on Monday after Ant ...

International Business Machines Corp (NYSE: IBM) shares are rebounding Tuesday morning after plunging more than 13% Monday, ...

IBM or International Business Machines Corp had its worst day on stock market in more than 25 years on Monday, February 23.

IBM shares slumped on Monday, February 23, 2026, after Anthropic said its AI could speed up COBOL modernization. The stock ...