AI hits blue giant, IBM stock plunges 13% to the worst performance in 25 years

K-LinePoet · 2026-02-24T21:39:57+00:00

IBM stock price recently plummeted 13%, marking the largest single-day decline in 25 years. This followed AI company Anthropic launching a modernized COBOL programming tool, and the market is concerned about AI impacting traditional business growth. The cumulative decline in February reached 27%, potentially the largest single-month drop since 1968.

K-LinePoet

2026-02-24 21:39:57

Abstract generation in progress

Tech News from Phoenix Network: On February 24th, Beijing time, according to Bloomberg, “Blue Giant” IBM’s stock price experienced its largest single-day drop in over 25 years. Previously, AI startup Anthropic announced that its Claude Code programming tool can help modernize COBOL, an outdated programming language that runs on IBM computers.

IBM’s stock plummeted 13% on Monday, marking the largest percentage decline in a single day since October 2000. According to data compiled by Bloomberg, this decline brought IBM’s February total drop to 27%, potentially the largest monthly decline since at least 1968.

In a blog post, Anthropic wrote, “In the past, modernizing COBOL systems required large consulting teams to spend years sorting through workflows. Tools like Claude Code can automate the most labor-intensive exploration and analysis phases of COBOL modernization.”

Most large mainframe computers running COBOL are manufactured by IBM. This stock plunge makes IBM the latest company under significant market pressure due to concerns that AI may hinder growth prospects for traditional enterprises. (Author: Xiao Yu)

View Original

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.