Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Futures Kickoff
Get prepared for your futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to experience risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Launchpad
Be early to the next big token project
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
IBM posts steepest daily drop since 2000 after Anthropic says AI can modernize COBOL
IBM posts steepest daily drop since 2000 after Anthropic says AI can modernize COBOL
FILE PHOTO: 56th annual World Economic Forum (WEF) meeting, in Davos · Reuters
Reuters
Tue, February 24, 2026 at 11:42 AM GMT+9 1 min read
In this article:
CRWD
-9.85%
DDOG
-11.28%
Feb 23 (Reuters) - Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code tool could be used to modernize a programming language run on IBM systems.
IBM shares sank 13.2%, their biggest drop since October 18, 2000.
COBOL is a programming language widely used on IBM mainframes across banking, insurance and government systems.
“Modernizing a COBOL system once required armies of consultants spending years mapping workflows. Tools like Claude Code can automate the exploration and analysis phases that consume most of the effort in COBOL modernization,” Anthropic said in a blog post on Monday.
“With AI, teams can modernize their COBOL codebase in quarters instead of years,” it added.
Software stocks have been battered in recent months by market fears around the growing capabilities of AI tools, particularly following the launch of plug-ins from Anthropic’s large language model Claude, seen as the startup’s push to become an application layer.
Shares of cybersecurity companies including CrowdStrike and Datadog also slumped on Monday, as investors weighed the potential impact of Anthropic’s new security tool on the industry.
(Reporting by Chris Thomas in Mexico City; Editing by Janane Venkatraman)
Terms and Privacy Policy
Privacy Dashboard
More Info