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 ...

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 ...

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

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

The legacy programming language that refuses to die is still powering millions of daily transactions, but the difficulties of maintaining and integrating Cobol mainframes make the case for ...