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

IBM's market value drops $25 billion as AI threatens its lucrative COBOL modernization business, sparking a historic stock ...

Following an Anthropic blog post covering the use of AI in code modernization, IBM stock collapsed more than 13%.

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...