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

International Business Machines Corporation stock plunges; downgrade IBM to Hold as Anthropic's Claude Code threatens ...

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

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

IBM shares tumbled after Anthropic blogged about how Claude Code could help businesses modernize legacy systems that use an ...

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

IBM Share Price Drop: "Modernizing a COBOL system once required armies of consultants ⁠spending years ‌mapping workflows.

IBM stock plunged on Claude Code COBOL fears, but Jefferies says IBM’s watsonx is already modernizing mainframes with GenAI—read more now.

IBM shares are climbing on Tuesday, but not enough to compensate for sharp Monday declines experienced in the wake of an Anthropic product announcement. Shares of IBM tumbled 13.2% on Monday after Ant ...

Cybersecurity and software names have sold off heavily in recent weeks as investors fretted about potential disruption from artificial intelligence.

A single Anthropic blog claiming its AI model Claude can read and modernise COBOL wiped nearly $30 billion off IBM’s market ...

International Business Machines Corp (NYSE: IBM) shares are rebounding Tuesday morning after plunging more than 13% Monday, ...