IBM is the latest AI casualty. Shares are tanking 11% on Anthropic programming language threat
CNBC
COBOL is a computer language used for business data processing and IBM is a leader in that area.
International Business Machines stock is getting slammed, becoming the latest victim of rapidly developing AI technology, after Anthropic's Claude announced COBOL capabilities.
Shares of IBM fell 11% in Monday afternoon trading after Anthropic outlined a new use case for its Claude Code product: automating the exploration and analysis work that drives most of the complexity in COBOL modernization.
COBOL, short for Common Business-Oriented Language, is a decades-old programming language used widely in business data processing, which is a core business area for IBM. COBOL continues to power systems responsible for large volumes of transactions, including payment processing and retail transaction systems, making it a prime target for cost-efficient AI disruption.
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.
Here are five key things investors need to know to start the trading day.
Chinese AI stocks surged on Wednesday following upbeat remarks from Nvidia's chief executive Jensen Huang on the promise of AI agents and OpenClaw.
Nvidia CEO Jensen Huang pointed to a fast-rising project called OpenClaw as a major step forward in how people interact with AI.
OpenAI has hired the former DocuSign CFO Cynthia Gaylor to run investor relations as the company gears up for a potential IPO.
Microsoft is doubling down on its superintelligence group to build models, while consolidating engineering efforts for its Copilot assistants.
Here are five key things investors need to know to start the trading day.
A decline in oil on Monday triggered stock buying, particularly in AI stocks like Nvidia, which wowed investors at its developers conference.
AVs are important to Nvidia as self-driving cars remain one of the primary areas where the company can show growth outside of artificial intelligence.
Here are five key things investors need to know to start the trading day.
Carbon credit purchases by Amazon, Google, Meta and Microsoft skyrocketed in 2023, based on tracked purchases.
JD.com is pushing same-day delivery and international brands as a way to help it compete with Amazon.
Travis Kalanick is renaming City Storage Systems to Atoms, while focusing on robotics for mining and transportation.