On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.

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

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 ...

With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, according to data compiled by Bloomberg. “Modernizing a Cobol system once ...

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

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 ...

Investors wiped $40 billion from IBM's market cap after Anthropic released COBOL translation tools. Analysts say the market ...