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IBM Shares Plunge as Anthropic Touts COBOL Modernization Efforts
Market Intelligence Analysis
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Why This Matters
IBM shares declined after AI startup Anthropic announced its Claude Code tool can modernize COBOL, a dated programming language primarily used on IBM computers, potentially threatening IBM's business.
Market Impact
Market impact analysis based on bearish sentiment with 90% confidence.
Sentiment
Bearish
AI Confidence
90%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
International Business Machines Corp. shares plunged on Monday, after the artificial intelligence startup Anthropic said its Claude Code tool can help with modernizing COBOL, a dated programming language that’s mainly run on IBM computers.
Original article published by
Bloomberg
on February 23, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.