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Comment by Tempest1981 | Hacker News Reader

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Tempest1981·

IBM shares fell 13% in a single day in last month:

"IBM Sinks Most Since 2000 as Anthropic Touts Cobol Tool"

https://finance.yahoo.com/news/ibm-sinks-most-since-2000-210...

It may not be "cheap", but possibly cheaper than IBM's consulting.

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I skip news like that. It's an AI business hyping one of their tools in a major AI hype-cycle. Shares can go up and down based on sentiment. My point still stands.

To me, there's a big difference between saying that migration projects can now be assisted with some AI tooling and saying that it is cheap and to just get Claude to do it.

Maybe I am out of touch but the former is realistic and the latter is just magical hand-waving.

Share-pricing operates on illusions. Just selling a plausible claim can influence the price. Whether they will deliver at the end, doesn't matter at that moment.

Feel free to correct the market and make oodles of money.

Risk my money based on a bunch of wallstreetbets idiots yoloing their money using a random number generator and seeing the word AI on twitter posts, sure lol. I’ll let you play in that cesspool.

I am!

IBM share price is back to where it was pre-Anthropic press release.

Sure, but imagine how much higher it would have gone in the counterfactual world where Anthropic didn't have an automatic port-from-Cobol tool.

Remember that those who trade on the stock market are not programmers with decades of experience writing cobol.

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