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

A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything you need to know about COBOL and the now viral blog from Anthropic ...

With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, ...

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

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

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere.

Feb 23 (Reuters) - Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code tool could be used to ...

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 ...

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

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

IBM shares saw their sharpest fall in over 25 years after AI startup Anthropic said its Claude Code tool can understand and modernise COBOL, a language deeply tied to IBM's mainframe business. Here is ...

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