The Amazon- and Google-backed AI startup said its latest tool would make it easier to update decades-old business software.
COBOL is a computer language used for business data processing and IBM is a leader in that area.
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IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.
On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.
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 ...
IBM shares tumbled after Anthropic blogged about how Claude Code could help businesses modernize legacy systems that use an ...
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