Explained | What is COBOL? How an Anthropic Claude blog wiped $30 billion off IBM in a single session

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

New AI Tool Aims to Help Agencies With COBOL Problems

A recent blog post from Anthropic, a large AI company in the U.S., signals that the tech can help governments "modernize" ...

IBM stock falls after Anthropic says AI can now modernize old software

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 ...

IBM is the latest AI casualty. Shares tank 13% on Anthropic programming language threat

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

IBM stock sinks as Anthropic rolls out yet another disruptive AI tool

IBM shares tumbled after Anthropic unveiled a tool aimed at business that use a decades-old programming language ...
CIO

Anthropic’s claim that AI can quickly refactor COBOL rattles IBM investors

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 latest Claude Code update triggers massive IBM stock selloff, shares down 13.2% in a day

IBM shares fell 13.2%, suffering their worst day since 2000, at $223.35 per share, after Anthropic shared an update regarding ...