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 ...

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 ...

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

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 ...

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere.

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