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 ...

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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.

IBM's market value drops $25 billion as AI threatens its lucrative COBOL modernization business, sparking a historic stock decline.

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Anthropic unveiled new Claude functionality that can modernize COBOL code faster at scale, triggering a sharp drop in IBM ...

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...