There's more to the story than the alphabet.
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A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything ...
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COBOL is a computer language used for business data processing and IBM is a leader in that area.
IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...
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IBM or International Business Machines Corp had its worst day on stock market in more than 25 years on Monday, February 23.
On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.
A single Anthropic blog claiming its AI model Claude can read and modernise COBOL wiped nearly $30 billion off IBM’s market ...