AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a ...

A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything ...

COBOL was associated with the Y2K phenomenon at the turn of the century, a software problem arising from the inability of ...

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

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere. IBM stock was down 10% on Monday afternoon after Anthropic published a blog ...

With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, ...

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

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 ...

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 ...

The Amazon- and Google-backed AI startup said its latest tool would make it easier to update decades-old business software.