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.
Stocktwits on MSN
IBM defends after 13% Anthropic-fueled stock drop: ‘New AI tools emerge every week,’ Cobol modernization challenges remain
IBM says new AI tools do not address the ‘fundamental engineering challenge of running mission-critical workloads at scale.’ ・IBM charges clients to modernize their financial systems running on Cobol, ...
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 ...
Trump administration lawyers accused Sherrill’s executive order of being in violation of the Constitution’s Supremacy Clause.
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