IBM Stock Is Trending After Crating 13% And Claude-Maker Anthropic Is The Reason Why: Here's What Happened
Bearish
-50.0
On Monday, shares of International Business Machines Corp (NYSE:IBM) declined 13.18% in the regular session to $223.35 and gained 0.94% in after-hours trading. The stock was seen trending overnight.
The stock became the latest perceived victim of rapidly advancing AI technology.
AI Tool Targets COBOL Modernization
The move followed comments from Anthropic that its Claude Code tool can help companies modernize legacy systems built on COBOL.
Common Business-Oriented Language, or COBOL, is a programming language widely used in banking, government and large-scale transaction processing.
IBM has long generated revenue from mainframe systems and consulting services tied to maintaining and upgrading those environments.
Developed in the late 1950s, it still underpins a vast share of financial infr
The stock became the latest perceived victim of rapidly advancing AI technology.
AI Tool Targets COBOL Modernization
The move followed comments from Anthropic that its Claude Code tool can help companies modernize legacy systems built on COBOL.
Common Business-Oriented Language, or COBOL, is a programming language widely used in banking, government and large-scale transaction processing.
IBM has long generated revenue from mainframe systems and consulting services tied to maintaining and upgrading those environments.
Developed in the late 1950s, it still underpins a vast share of financial infr
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