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Shares of IBM plunged as much as 13.15% on Tuesday, February 23, 2026, following a report by The Information that Anthropic’s Claude code modernization tool can perform tasks previously considered the domain of IBM’s software, according to reporting by Portfolio.hu and CNBC.
The decline marks IBM’s lowest share price in 25 years, according to multiple financial news outlets. The selloff began after Anthropic announced the new capability of its Claude platform, which reportedly automates the modernization of legacy code. IBM has been a major player in providing software and services for such modernization projects.
The Wall Street Journal reported in early February that IBM was considering selling its weather business to focus on software development and cloud services. The potential sale, combined with the emergence of AI-powered code modernization tools, has fueled investor concerns about the future of IBM’s core business.
According to Google Finance data, as of 18:00 GMT+1 on February 23, IBM shares were trading at €210.00. The drop triggered a broader selloff in the U.S. Stock market, with the Dow Jones Industrial Average and Nasdaq also experiencing declines, as reported by FXEmpire.
Portfolio Terminal data shows real-time BSE data for IBM (1IBM:BIT) is available, but the current market volatility is impacting trading activity. The Hungarian financial portal Portfolio.hu provides ongoing coverage of the situation, while Portfolio Terminal offers access to detailed market data for investors.
IBM has not yet issued a formal statement addressing the impact of Anthropic’s announcement on its business. The company’s fourth-quarter 2025 earnings report, released December 31, 2025, did not foreshadow the scale of the current market reaction.