{"id":26071,"date":"2026-02-23T22:16:52","date_gmt":"2026-02-24T03:16:52","guid":{"rendered":"https:\/\/tvdelmarva.com\/wp\/ibm-stock-plummets-13-after-ai-company-claims-it-can-replace-legacy-systems\/"},"modified":"2026-02-23T22:16:52","modified_gmt":"2026-02-24T03:16:52","slug":"ibm-stock-plummets-13-after-ai-company-claims-it-can-replace-legacy-systems","status":"publish","type":"post","link":"https:\/\/tvdelmarva.com\/wp\/ibm-stock-plummets-13-after-ai-company-claims-it-can-replace-legacy-systems\/","title":{"rendered":"IBM Stock Plummets 13% After AI Company Claims It Can Replace Legacy Systems"},"content":{"rendered":"\n
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International Business Machines experienced its worst single-day stock performance in more than two decades Monday, plummeting 13.2% after artificial intelligence company Anthropic announced technology that could replace traditional IBM services.<\/p>

The massive selloff represents IBM’s largest daily decline since October 18, 2000, triggered by Anthropic’s announcement that its Claude Code technology can modernize COBOL programming systems.<\/p>

COBOL represents a decades-old computer programming language that runs extensively on IBM’s mainframe computers, particularly within banking institutions, insurance companies, and government agencies.<\/p>

According to Anthropic’s Monday blog announcement, traditional COBOL system updates previously demanded extensive consultant teams working for multiple years to map complex workflows. The company stated that its Claude Code technology can now handle the exploration and analysis work that typically consumes the majority of modernization efforts.<\/p>

“With AI, teams can modernize their COBOL codebase in quarters instead of years,” the startup explained in its announcement.<\/p>

The broader software industry has faced significant pressure in recent months as investors grow increasingly concerned about artificial intelligence capabilities potentially disrupting established technology companies, especially following Anthropic’s expansion of its Claude language model through new plug-in applications.<\/p>

Other technology stocks also suffered Monday, with cybersecurity firms like CrowdStrike and Datadog declining as market participants evaluated how Anthropic’s new security applications might affect their business prospects.<\/p>","protected":false},"excerpt":{"rendered":"

International Business Machines saw its worst single-day stock decline in over two decades Monday following an announcement from AI startup Anthropic. The company said its new technology can quickly modernize old computer programming systems that IBM has traditionally serviced.<\/p>\n","protected":false},"author":4,"featured_media":26070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[834],"tags":[],"class_list":["post-26071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/02\/news-1771903011805.jpg?fit=450%2C300&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pbtNqq-6Mv","jetpack-related-posts":[{"id":26502,"url":"https:\/\/tvdelmarva.com\/wp\/tech-companies-rally-after-ai-partnership-news-eases-industry-fears\/","url_meta":{"origin":26071,"position":0},"title":"Tech Companies Rally After AI Partnership News Eases Industry Fears","author":"Admin","date":"February 24, 2026","format":false,"excerpt":"Software company stocks bounced back Tuesday following announcements from AI firm Anthropic about new partnership tools. The recovery comes after the sector hit 10-month lows amid concerns about artificial intelligence disrupting traditional software jobs.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/02\/news-1771956088071.jpg?fit=450%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":55813,"url":"https:\/\/tvdelmarva.com\/wp\/musks-spacex-eyes-60b-purchase-of-ai-coding-assistant-cursor\/","url_meta":{"origin":26071,"position":1},"title":"Musk’s SpaceX Eyes $60B Purchase of AI Coding Assistant Cursor","author":"Admin","date":"April 22, 2026","format":false,"excerpt":"Elon Musk's SpaceX has announced it holds the option to acquire artificial intelligence coding tool Cursor for $60 billion later this year. The move represents SpaceX's effort to compete with major AI companies like Anthropic and OpenAI as it prepares for a potential stock market launch.","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/tvdelmarva.com\/wp\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776872238503.jpg?fit=1000%2C666&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776872238503.jpg?fit=1000%2C666&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776872238503.jpg?fit=1000%2C666&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/04\/news-1776872238503.jpg?fit=1000%2C666&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":36736,"url":"https:\/\/tvdelmarva.com\/wp\/ai-company-anthropic-files-federal-lawsuit-against-trump-pentagon-decision\/","url_meta":{"origin":26071,"position":2},"title":"AI Company Anthropic Files Federal Lawsuit Against Trump Pentagon Decision","author":"Admin","date":"March 14, 2026","format":false,"excerpt":"San Francisco-based AI firm Anthropic has filed two federal lawsuits challenging the Pentagon's designation of the company as a \"supply chain risk.\" The dispute stems from Anthropic's refusal to allow unrestricted military use of its Claude AI chatbot technology.","rel":"","context":"In "Politics"","block_context":{"text":"Politics","link":"https:\/\/tvdelmarva.com\/wp\/category\/politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773466574327.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773466574327.jpg?fit=1000%2C667&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773466574327.jpg?fit=1000%2C667&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/03\/news-1773466574327.jpg?fit=1000%2C667&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":48706,"url":"https:\/\/tvdelmarva.com\/wp\/ai-startup-teams-with-tech-giants-on-new-cybersecurity-defense-tool\/","url_meta":{"origin":26071,"position":3},"title":"AI Startup Teams with Tech Giants on New Cybersecurity Defense Tool","author":"Admin","date":"April 7, 2026","format":false,"excerpt":"Artificial intelligence company Anthropic has launched a cybersecurity initiative with major tech firms including Amazon, Microsoft, and Apple. 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