COBOL is a computer language used for business data processing and IBM is a leader in that area.

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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.

IBM shares plunged over 13% after AI startup Anthropic announced a tool to modernize COBOL, a key IBM programming language.

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 ...

Overview Programming languages are in demand for cloud, mobile, analytics, and web development, as well as security. Online ...

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

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

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