IBM or International Business Machines Corp had its worst day on stock market in more than 25 years on Monday, February 23.

Following an Anthropic blog post covering the use of AI in code modernization, IBM stock collapsed more than 13%.

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...

Every conversation I have with enterprise leaders today carries an unmistakable urgency about AI transformation. The economics have changed, possibilities have expanded dramatically, and the pressure ...

On 23 Feb 2026, IBM shares dropped 13%, losing nearly $30B, after Anthropic's Claude AI promised faster COBOL modernization, threatening legacy IT services dependent on scarce expertise.