Hector Bellerin had put Arsenal in front after latching onto a superb Alex Iwobi pass and beating Asmir Begovic, but two goals in four minutes turned the match on its head. Get the app to get the game.
The 25-year-old was key to Bournemouth's comeback, though, scoring the first after a magnificent cross from Fraser and then providing the assist for Ibe's victor.
Bournemouth host Arsenal in the Premier League on Sunday afternoon, and you can listen to full national radio commentary of the match live on talkSPORT.
Centenarian: 2019 Chevrolet Silverado Debuts as Chevy Trucks Marks 100 Years
Such a milestone almost demands a blockbuster product, which Chevy seems quite confident it has just that in the 2019 Silverado. Away from the fighting talk, there's a 63 cubic feet short box, while there are lockable storage bins over the wheel arches.
But after Arsenal's opener Bournemouth mounted pressure and nearly restored parity through Ibe who fired a tame shot which was saved by Petr Cech.
The first half was summed up from an attacking point of view for Arsenal by Ainsley Maitland-Niles going closest.
Bournemouth were perhaps quite unfortunate not to be awarded a penalty before the break as Iwobi looked to have moved his arm towards the ball from a corner. A ball over the top found substitute Lys Mousset who was then able to tee up Ibe as he fired under Cech and made it 2-1.
The Gunners defeat means they are still yet to win in 2018, and have only take maximum points from three out of 12 Premier League fixtures this season.
The Gunners on the other hand were left effectively condemned in the sixth position, five points behind fifth placed Tottenham Hotspurs who secured a 4-0 emphatic win over Everton on Saturday.