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 ...

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

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

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

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 ...

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

COBOL remains a critical language for many Indian IT companies, particularly those supporting global banking, insurance, and ...

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

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 ...

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 ...