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

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

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

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 ...

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

Feb 23 (Reuters) - Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code tool could be used to ...

Big Blue has been saying this itself since 2023 IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code ...

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