Investors wiped $40 billion from IBM's market cap after Anthropic released COBOL translation tools. Analysts say the market got the news right and the conclusion wrong.

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-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, or Common Business Oriented Language, is one of the oldest programming languages in use, dating back to around 1959. It’s had surprising staying power; according to a 2022 survey, there’s over ...

The COBOL programming language was created in 1959 and has been widely seen as obsolete for decades. Yet there are still a fair number of software systems based on the language. The economic stresses ...

The economic shutdown due to the novel coronavirus pandemic has caused a massive surge in unemployment benefit claims nationwide. Unfortunately, in many states across the US, unemployment benefit ...

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 ...