IBM shares slide 13% as investors react to a new AI tool aimed at modernizing COBOL systems

IBM’s shares dropped 13.1% after an AI developer unveiled a new tool for modernizing COBOL systems, a move that could threaten IBM’s traditional mainframe and services business. Investors are concerned about how quickly AI might reduce the need for legacy IT modernization, potentially pressuring IBM’s revenue from consultant-heavy work. The report also details insider trading, hedge fund activity, government contracts, congressional stock trading, and analyst ratings related to IBM.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)