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.

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Anthropic's AI tool Claude's ability to modernize Cobol code caused IBM shares to plummet, wiping out billions in market cap.

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 ...

Celebrating Ten Years of Innovation, Leadership, and Lasting Impact Bert’s decade of contributions has shaped Ring in ...

IBM shares tumbled after Anthropic blogged about how Claude Code could help businesses modernize legacy systems that use an ...

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Since the majority of mainframe computers running COBOL are produced by IBM, the development triggered heavy selling in the ...

IBM shares fell 13.2%, suffering their worst day since 2000, at $223.35 per share, after Anthropic shared an update regarding ...