IBM Stock Falls 11% Amid AI Disruption Concerns

Artificial intelligence company Anthropic has announced that its Claude platform is capable of optimizing COBOL code, a key profit area for IBM. According to NS3.AI, this revelation has contributed to an 11% drop in IBM's stock, as investors express concerns over AI's potential to disrupt traditional technology businesses. The news has also led to further declines in the cryptocurrency market, indicating increased investor caution.