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 ...

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

There's more to the story than the alphabet.

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

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

AI agents like Claude Code are reshaping software development by automating legacy modernisation and routine coding. A recent ‘casualty’ of this was the legendary firm IBM, whose stocks fell.

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International Business Machines Corporation stock plunges; downgrade IBM to Hold as Anthropic's Claude Code threatens ...