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NEW YORK POST BUSINESS Oil prices hit five-month high before reversing gains as Middle East uncertainty persists Strong Bullish BUSINESS INSIDER AI coding has hit an 'intelligence saturation' point, Cognition cofounder says Neutral NORTHERN MINER Seville panel: Europe must match US mining support Bullish ENR Judge Affirms $383M Verdict Against Toshiba America Energy Over Faulty Hydro Plant Upgrad… Pessimistic CBS NEWS Egypt weighs sending troops to Saudi Arabia in war with Iran-backed rebels Bearish THE GUARDIAN US NEWS From Iran to AI: the six key voter issues shaping the US midterm elections Pessimistic CNBC TOP STORIES What Amazon must do to get its stumbling stock back to record highs and beyond Strong Bullish COINTELEGRAPH Injective, BDACS plan Korean won stablecoin settlement for tokenized assets Neutral THE DAILY CALLER Young Americans Lead Credit Card Spending Surge As Cost Of Living Squeezes Paychecks Strong Bullish YOUTUBE - YAHOO FINANCE Why defense stocks keep falling in the middle of a rearmament cycle | The 8:30 Neutral CNBC FINANCE Stocks making the biggest moves midday: Hasbro, Northrop Grumman, Equifax, General Motors… Strong Bullish ROBOTICS & AUTOMATION Exotec expands warehouse robotics business in Japan with two major Skypod installations Neutral CNBC TOP STORIES Trump sued over 50% tariffs on Canada in latest trade challenge Bearish NEW YORK POST BUSINESS Ex-Google CEO Eric Schmidt’s early Anthropic bet could balloon to $20B in blockbuster IPO Neutral COINTELEGRAPH Stablecoin transfers quadruple to $891B as US banks expand adoption: Report Neutral CBS NEWS Dissecting Trump's election messaging; updates in Minnesota, Florida races Neutral ABC NEWS Trucker protest leaves supermarket shelves and gas pumps empty in southern Italy Pessimistic FREIGHTWAVES Heartland Express sees earnings turnaround in Q3 Bearish ABC NEWS Ahead of massive IPOs, AI companies are sketching plans to share their wealth Neutral NEW YORK TIMES BUSINESS Heading to France? Amid Recent Unrest, Here’s What to Know Neutral NEW YORK POST BUSINESS Oil prices hit five-month high before reversing gains as Middle East uncertainty persists Strong Bullish BUSINESS INSIDER AI coding has hit an 'intelligence saturation' point, Cognition cofounder says Neutral NORTHERN MINER Seville panel: Europe must match US mining support Bullish ENR Judge Affirms $383M Verdict Against Toshiba America Energy Over Faulty Hydro Plant Upgrad… Pessimistic CBS NEWS Egypt weighs sending troops to Saudi Arabia in war with Iran-backed rebels Bearish THE GUARDIAN US NEWS From Iran to AI: the six key voter issues shaping the US midterm elections Pessimistic CNBC TOP STORIES What Amazon must do to get its stumbling stock back to record highs and beyond Strong Bullish COINTELEGRAPH Injective, BDACS plan Korean won stablecoin settlement for tokenized assets Neutral THE DAILY CALLER Young Americans Lead Credit Card Spending Surge As Cost Of Living Squeezes Paychecks Strong Bullish YOUTUBE - YAHOO FINANCE Why defense stocks keep falling in the middle of a rearmament cycle | The 8:30 Neutral CNBC FINANCE Stocks making the biggest moves midday: Hasbro, Northrop Grumman, Equifax, General Motors… Strong Bullish ROBOTICS & AUTOMATION Exotec expands warehouse robotics business in Japan with two major Skypod installations Neutral CNBC TOP STORIES Trump sued over 50% tariffs on Canada in latest trade challenge Bearish NEW YORK POST BUSINESS Ex-Google CEO Eric Schmidt’s early Anthropic bet could balloon to $20B in blockbuster IPO Neutral COINTELEGRAPH Stablecoin transfers quadruple to $891B as US banks expand adoption: Report Neutral CBS NEWS Dissecting Trump's election messaging; updates in Minnesota, Florida races Neutral ABC NEWS Trucker protest leaves supermarket shelves and gas pumps empty in southern Italy Pessimistic FREIGHTWAVES Heartland Express sees earnings turnaround in Q3 Bearish ABC NEWS Ahead of massive IPOs, AI companies are sketching plans to share their wealth Neutral NEW YORK TIMES BUSINESS Heading to France? Amid Recent Unrest, Here’s What to Know Neutral
Venture Beat · Feb 24, 2026 10:00 PM EST Technology

IBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it

On Tuesday, Anthropic published tools that let Claude read, analyze and translate legacy COBOL into modern languages like Java and Python. By the end of the trading day, investors had wiped roughly $40 billion from IBM's market cap — the company's biggest single-day drop in 25 years — pricing the announcement as an existential threat to IBM's mainframe business.The reaction was swift. It was also built on a fundamen…

IBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it
Image Venture Beat

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