{"id":487403,"date":"2026-02-24T09:55:12","date_gmt":"2026-02-24T09:55:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/487403\/"},"modified":"2026-02-24T09:55:12","modified_gmt":"2026-02-24T09:55:12","slug":"ibm-posts-steepest-daily-drop-since-2000-after-anthropic-says-ai-can-modernize-cobol","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/487403\/","title":{"rendered":"IBM posts steepest daily drop since 2000 after Anthropic says AI can modernize COBOL"},"content":{"rendered":"\n<p class=\"yf-vbsvxt\">Feb 23 (Reuters) &#8211; Shares of International Business Machines recorded their steepest daily drop in more \u200cthan 25 years on Monday, after AI \u200cstartup Anthropic said its Claude Code tool could be used \u200bto modernize a programming language run on IBM systems.<\/p>\n<p class=\"yf-vbsvxt\">IBM shares sank 13.2%, their biggest drop since October 18, 2000.<\/p>\n<p class=\"yf-vbsvxt\">COBOL is a programming language widely used \u200con IBM mainframes \u2060across banking, insurance and government systems.<\/p>\n<p class=\"yf-vbsvxt\">&#8220;Modernizing a COBOL system once required armies of \u2060consultants spending years mapping workflows. Tools like Claude Code can automate the exploration and analysis phases that \u200bconsume most \u200bof the effort \u200bin COBOL modernization,&#8221; Anthropic \u200csaid in a blog post on Monday.<\/p>\n<p class=\"yf-vbsvxt\">&#8220;With AI, teams can modernize their COBOL codebase in quarters instead of years,&#8221; it added.<\/p>\n<p class=\"yf-vbsvxt\">Software stocks have been battered in recent months by market fears around the \u200cgrowing capabilities of <a href=\"https:\/\/tech.yahoo.com\/ai\/\" data-ylk=\"slk:AI tools;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">AI tools<\/a>, \u200bparticularly following the launch of \u200bplug-ins from Anthropic&#8217;s \u200blarge language model Claude, seen as \u200cthe startup&#8217;s push to become \u200ban application \u200blayer.<\/p>\n<p class=\"yf-vbsvxt\">Shares of cybersecurity companies including CrowdStrike and Datadog also slumped on Monday, as investors weighed \u200bthe potential \u200cimpact of Anthropic&#8217;s new security tool on the \u200bindustry.<\/p>\n<p class=\"yf-vbsvxt\">(Reporting by Chris Thomas in Mexico City; \u200bEditing by Janane Venkatraman)<\/p>\n","protected":false},"excerpt":{"rendered":"Feb 23 (Reuters) &#8211; Shares of International Business Machines recorded their steepest daily drop in more \u200cthan 25&hellip;\n","protected":false},"author":2,"featured_media":487404,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[223935,28,14170,223937,223936,223938],"class_list":{"0":"post-487403","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ai-startup-anthropic","9":"tag-business","10":"tag-cobol","11":"tag-ibm-mainframes","12":"tag-ibm-shares","13":"tag-ibm-systems"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/487403","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=487403"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/487403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/487404"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=487403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=487403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=487403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}