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Shares of IBM saw their sharpest single-day fall in more than 25 years after new fears emerged about how artificial intelligence could hurt one of the company's most stable businesses.

The sell-off was triggered by a blog post from AI startup Anthropic, which claimed that its AI tool, Claude Code, can understand and modernise COBOL, a programming language created in the 1950s that ...

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The sell-off was triggered by a blog post from AI startup Anthropic, which claimed that its AI tool, Claude Code, can ...

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IBM stock closed 13.15% lower at $223.35 on NYSE wiping out more than $31 billion in market cap after the AI startup Anthropic announced that Claude can streamline COBOL code.