COBOL stands for Common Business-Oriented Language and was created in 1959. It was partly drawn on the work of computing pioneer Grace Hopper and was built for a single purpose: processing business ...

Anthropic’s announcement that its updated AI tool can modernise COBOL, an old programming language that runs on IBM’s mainframes, left Big Blue’s stocks battered on Monday. Banasree Purkayastha looks ...

(Bloomberg) --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 ...

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 ...

Anthropic’s AI-powered computing-coding agent Claude appears easily capable of competing with one of IBM’s core businesses. Worries of this threat sent IBM stock careening on Monday. A deeper dive ...

The market's knee-jerk reaction makes enough superficial sense. Anthropic's AI-powered computer-coding platform Claude can easily help modernize complicated programs written in COBOL (Common ...

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

IBM stock was down 10% on Monday afternoon after Anthropic published a blog post about how its Claude Code tool can be used to modernize software written in the COBOL language, which handles ...