IBM Shares Suffer Sharpest Drop in 25 Years Following Anthropic's AI Move

Historic Value Loss U.S.-based technology giant IBM experienced one of its most challenging days on the stock market in 25 years.
The company's shares fell 13.15% in a single day to $223.35 following the announcement of new technology from AI startup Anthropic.
This sharp decline stands as the largest daily loss recorded since October 18, 2000.
Claude Code and Consulting Revenues At the center of this sudden market volatility is a new tool developed by Anthropic called "Claude Code." The company announced that this tool has the capability to modernize COBOL systems, which are of critical importance to IBM mainframes.
In a blog post, Anthropic emphasized that discovery and analysis processes, which previously required years of consulting services, can now be automated with artificial intelligence.
IBM's Revenue Model Under Threat The COBOL programming language still forms the foundation of massive systems in the banking, insurance, and public sectors today.
For IBM, the maintenance and modernization of these systems represented a source of long-term and highly profitable consulting revenue.
The potential for AI to accelerate this process and reduce costs was perceived by investors as a direct threat to IBM's traditional service revenues.