IBM shares tumbled after Anthropic unveiled a tool aimed at business that use a decades-old programming language ...
COBOL is a computer language used for business data processing and IBM is a leader in that area.
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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.
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The Boston startup uses AI to translate and verify legacy software for defense contractors, arguing modernization can’t come at the cost of new bugs.
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.
IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.
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 ...
Shares tank 13 per cent on Anthropic programming language threat. Read more at straitstimes.com. Read more at ...