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

IBM shares tumbled after Anthropic unveiled a tool aimed at business that use a decades-old programming language ...

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

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 ...

Since the majority of mainframe computers running COBOL are produced by IBM, the development triggered heavy selling in the ...

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 ...

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