tech
February 23, 2026
IBM is the latest AI casualty. Shares tank 13% on Anthropic programming language threat
COBOL is a computer language used for business data processing and IBM is a leader in that area.
TL;DR
- IBM stock fell by nearly 13.2% on Monday.
- Anthropic's Claude Code tool can automate the exploration and analysis of COBOL code.
- COBOL is a legacy programming language widely used in business data processing and critical systems.
- AI disruption of COBOL modernization is seen as a threat to IBM's business.
- IBM shares are down over 24% year to date.
- This follows a trend of AI impacting tech stocks, including cybersecurity companies.
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