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Sonia Shenoy: IBM stock plunges 13 percent on AI threat

Sonia Shenoy: IBM stock plunges 13 percent on AI threat
IBM stock falls on AI threat

IBM is facing financial pressure as its stock fell 13 percent, reports Sonia Shenoy.

The decline is attributed to a perceived competitive threat from Anthropic's new programming language, Claude Code. According to a blog post by Anthropic, Claude Code is capable of automating COBOL modernization and incrementally migrating this code into modern languages with human assistance.

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