International Business Machines Corp. shares plunged 13% after Anthropic said its Claude Code AI tool could accelerate COBOL modernization, sparking investor fears that AI may disrupt IBM’s legacy mainframe and consulting business despite the company’s recent earnings beat.
On Monday, shares of International Business Machines Corp (NYSE:IBM) declined 13.18% in the regular session to $223.35 and gained 0.94% in after-hours trading. The stock was seen trending overnight.
The stock became the latest perceived victim of rap… [2222 chars]
Source: Benzinga | Published: 2026-02-24T01:53:29Z
Credit: Benzinga
