AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a ...

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Anthropic's AI tool Claude's ability to modernize Cobol code caused IBM shares to plummet, wiping out billions in market cap.

With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, ...

Whenever the topic is raised in popular media about porting a codebase written in an ‘antiquated’ programming language like Fortran or COBOL, very few people tend to object to this notion. After all, ...

COBOL is a computer language used for business data processing and IBM is a leader in that area.

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere. IBM stock was down 10% on Monday afternoon after Anthropic published a blog ...

Anthropic's AI-powered computer-coding platform Claude can easily help modernize complicated programs written in COBOL (Common Business-Oriented Language), seemingly posing a threat to IBM's (NYSE: ...

Investors reacted to Anthropic’s assertion that Claude Code could streamline legacy COBOL modernization, raising concerns about pressure on IBM’s high‑margin mainframe services despite longstanding ...