Explained | What is COBOL? How an Anthropic Claude blog wiped $30 billion off IBM in a single session

A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything you need to know about COBOL and the now viral blog from Anthropic

Anthropic's new AI tool can write 67-year-old COBOL code, sending 115-year-old IBM's stock tumbling by 13% — IBM stock has worst day in 26 years, down 25% MoM and counting

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The computing giant's stranglehold over those markets may finally begin to crack,
Computing

AI can rewrite COBOL and IBM investors are panicking

A blog post by Anthropic pointing out that Claude Code can refactor legacy COBOL applications appears to have sent IBM’s share price down by double

Claude the conqueror: The AI chatbot keeps wiping out billions from exposed tech stocks

Claude, Anthropic's AI chatbot, has sparked major selling of US tech stocks as its capabilities induce fear among investors of widespread disruption.

IBM shares plunge as Anthropic touts COBOL modernization efforts

Shares sank as much as 13 per cent, their biggest intraday drop since March 2020. With the decline, the stock is now down 26 per cent in February, on track for its biggest one-month percentage decline since at least 1968,
The Financial Express

From crash to comeback: IBM rebounds 5% as analysts call AI-driven sell-off an overreaction

IBM shares rebound 5% after AI fears fade, as analysts defend its mainframe strength and downplay risks from Anthropic’s Claude Code and COBOL modernisation concerns.

IBM share price falls 13% as Anthropic says Claude can streamline COBOL code: Why did it trigger crash among Indian IT stocks?

COBOL remains a critical language for many Indian IT companies, particularly those supporting global banking, insurance, and retail systems