• IBM’s stock plummeted to its lowest point in over 25 years following AI startup Anthropic’s announcement of its Claude Code tool, designed to modernize the outdated Cobol programming language.
  • This development raises concerns about IBM’s relevance in the evolving tech landscape, as competitors leverage modern AI solutions.
  • The significant drop in share price reflects investor anxiety over IBM’s ability to adapt to changing industry demands.

Source: bloomberg.com