By Simply Wall St
Publication Date: 2026-02-24 17:09:00
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Anthropic launched an AI tool that automates COBOL modernization, challenging IBM’s long established mainframe services business.
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IBM responded by stressing the resilience, security and integration needs of mission critical enterprise systems that go beyond code translation.
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At the same time, IBM announced a new partnership with Deepgram to bring advanced voice AI into its Watsonx generative AI platform for enterprises.
For investors watching NYSE:IBM, this news affects a core part of the company’s identity in mainframe and legacy modernization services, while also highlighting its push into generative AI. The stock last closed at $223.35, with a 30 day return of a 23.6% decline and a 7 day return of a 14.9% decline, and shares are also lower over the past year.
Over longer periods, IBM’s shares show a 3 year return of 89.7%…
