IBM faced its worst stock market day in over 25 years. Fears arose that a new AI tool from Anthropic could challenge its core business. IBM defended its mainframe platform, stating its value transcends specific programming languages like COBOL. The company highlighted its own AI investments for code modernization, emphasizing the complexity of enterprise workloads beyond simple code translation. IBM faced its worst stock market day in over 25 years. Fears arose that a new AI tool from Anthropic could challenge its core business. IBM defended its mainframe platform, stating its value transcends specific programming languages like COBOL. The company highlighted its own AI investments for code modernization, emphasizing the complexity of enterprise workloads beyond simple code translation.
