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.
CIO

Anthropic’s claim that AI can quickly refactor COBOL rattles IBM investors

Investors reacted to Anthropic’s assertion that Claude Code could streamline legacy COBOL modernization, raising concerns about pressure on IBM’s high‑margin mainframe services despite longstanding ...

IBM Confronts Anthropic COBOL Threat While Expanding Watsonx With Voice AI

Anthropic launched an AI tool that automates COBOL modernization, challenging IBM's long established mainframe services ...

IBM is the latest AI casualty. Shares tank 13% on Anthropic programming language threat

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

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% Mo…

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

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 ...