NEW YORK, Feb 23 — Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code...
The IBM logo is displayed during the 56th annual World Economic Forum meeting, in Davos, Switzerland, January 20, 2026. IBM shares sank 13.2 per cent, their biggest drop since October 18, 2000. — Reuters picand enjoy FREE RM10 & when you sign up using code VERSAMM10 with min.
cash of RM100 today! T&Cs apply.NEW YORK, Feb 23 — Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code tool could be used to modernise a programming language run on IBM systems.COBOL is a programming language widely used on IBM mainframes across banking, insurance and government systems. “Modernising a COBOL system once required armies of consultants spending years mapping workflows. Tools like Claude Code can automate the exploration and analysis phases that consume most of the effort in COBOL modernisation,” Anthropic said in a blog post on Monday.Software stocks have been battered in recent months by market fears around the growing capabilities of AI tools, particularly following the launch of plug-ins from Anthropic’s large language model Claude, seen as the startup’s push to become an application layer. Shares of cybersecurity companies including CrowdStrike and Datadog also slumped on Monday, as investors weighed the potential impact of Anthropic’s new security tool on the industry. — Reuters
Anthropic Claude Code COBOL Modernisation AI Startup Software Stocks Cybersecurity Companies
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