Summary

IBM shares dropped 13.2% after Anthropic announced its Claude Code tool could modernize COBOL, a programming language used on IBM systems. This news, along with concerns about AI’s impact on the software industry, contributed to the decline.

https://www.channelnewsasia.com/business/ibm-posts-steepest-daily-drop-2000-after-anthropic-says-ai-can-modernize-cobol-5948506