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% Mo…

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The ...

IBM Shares Plummet 13%—Worst Day Since 2000—After Anthropic Launches Programming AI Tool

The Amazon- and Google-backed AI startup said its latest tool would make it easier to update decades-old business software.

IBM stock falls after Anthropic says AI can now modernize old software

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere.
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 ...

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 ...

Code shock: Anthropic’s Cobol claim erases $30-billion from IBM’s market cap

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

Anthropic AI’s COBOL code advances unlock new doors for IT companies

Industry leaders say Anthropic’s advances in automating COBOL code could lower migration costs and create new opportunities for IT service firms. HCLTech CEO C Vijayakumar noted modernising mainframes ...

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 ...