IBM's $40B stock wipeout is built on a misconception: Translating COBOL isn't the same as modernizing it

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

IBM Confronts Anthropic COBOL Threat While Expanding Watsonx With Voice AI

Anthropic launched an AI tool that automates COBOL modernization, challenging IBM's long established mainframe services ...

Explained | What is COBOL? How an Anthropic Claude blog wiped $30 billion off IBM in a single session

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 ...
CIO

Anthropic’s claim that AI can quickly refactor COBOL rattles IBM investors

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 Sinks Most Since 2000 as Anthropic Touts Cobol Tool

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

IBM Faces Major Crisis: 95% of COBOL ATMs at Risk from Cost-Efficient AI Disruption

Discover how Anthropic's AI tool threatens IBM's dominance by modernising COBOL systems, causing a 13.2% stock drop and ...
CoinDesk

Crypto suffers deeper declines as AI fears send IBM plunging 11%

Artificial intelligence company Anthropic announced that its Claude platform can streamline COBOL code, a key profit center ...

Anthropic's new AI tool can write 67-year-old COBOL code, sending 115-year-old IBM's stock tumbling by 13% — IBM stock has worst day in 26 years, down 25% Mo…

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The ...