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.

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.

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 ...

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.

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 ...

IBM stock plunges after AI tool targets its legacy systems

IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.
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Crypto suffers deeper declines as AI fears send IBM plunging 11%

Artificial intelligence company Anthropic announced that its Claude platform can streamline COBOL code, a key profit center ...