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 ...

Anthropic's AI-powered computer-coding platform Claude can easily help modernize complicated programs written in COBOL (Common Business-Oriented Language), seemingly posing a threat to IBM's (NYSE: ...

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

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 ...

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

IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.

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 ...

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

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