AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a ...

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

International Business Machines Corp. shares had their worst day in more than 25 years on Monday, after AI startup Anthropic PBC said its Claude Code tool can help modernize Cobol, a dated programming ...

Created for the Web back in the 1990s, Java has become increasingly important to create the latest AI functionalities, says Azul.

AI agents like Claude Code are reshaping software development by automating legacy modernisation and routine coding. A recent ...

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 ...

COBOL was associated with the Y2K phenomenon at the turn of the century, a software problem arising from the inability of ...

On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.

The catalyst for the downturn was a product announcement from AI firm Anthropic. Its newly introduced tool, "Claude Code," is designed to efficiently modernize systems built on the COBOL programming ...