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IBM Stock Tumbled More Than 13% Today — What’s Anthropic Got To Do With It?

IBM Stock Tumbled More Than 13% Today — What’s Anthropic Got To Do With It?

By Aashika Suresh
Publication Date: 2026-02-23 19:59:00

Anthropic on Monday announced Claude’s Common Business-Oriented Language (COBOL) capabilities, which is a core business area for IBM.

  • In a blog post, Anthropic said that tools like its Claude Code can automate the exploration and analysis phases in COBOL modernization.
  • It works by mapping dependencies across thousands of lines of code, documenting workflows, identifying risks faster than human analysts, and providing teams with deep insights for informed decision-making, Anthropic said.
  • COBOL is a programming language that is frequently employed in high-volume data processing, and is a core business area for IBM.

Shares of International Business Machines Corp. (IBM) plummeted more than 13% on Monday, wiping out most of its gains of the past year, after Anthropic announced Claude Code’s Common Business-Oriented Language (COBOL) capabilities.

In a blog post, Anthropic said that tools like its Claude Code can automate the exploration and analysis phases in COBOL modernization.

“With…

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