IBM stabilizes as COBOL modernization proves beneficial, not a threat

Name: IBM stabilizes as COBOL modernization proves beneficial, not a threat
Uploaded: 2026-02-24T20:59:01Z
Duration: 1 min 18 s

The Claman Countdown · FBN · Feb 24, 2026 · 1m 18sSign Up Now

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IBM shares stabilize after an earlier scare fueled by AI platform Anthropic. Anthropic announced a new coding tool for COBOL, a programming language developed in the 1950s that runs on IBM mainframes. This initially caused IBM shares to faceplant, closing down 13% yesterday, the biggest loss in over 25 years. However, IBM's Chief Commercial Officer, Rob Thomas, clarified that any modernization of COBOL is actually a tailwind for the company, and IBM's Watson X A.I. platform has been updating COBOL for a couple of years.