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

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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 ...

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

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

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 ...

Big Blue has been saying this itself since 2013 IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code ...