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

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

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

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 ...

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

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

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

International Business Machines Corp. shares had their worst day in more than 25 years on Monday, after AI startup Anthropic ...

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

IBM shares slumped on Monday, February 23, 2026, after Anthropic said its AI could speed up COBOL modernization. The stock ...

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 ...

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