IBM shares tumbled after Anthropic unveiled a tool aimed at business that use a decades-old programming language ...

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

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

International Business Machines Corporation stock plunges; downgrade IBM to Hold as Anthropic's Claude Code threatens ...

Anthropic launched an AI tool that automates COBOL modernization, challenging IBM's long established mainframe services ...

The two companies have been publicly taking jabs at each other as they contend in the race to dominate AI.

Big Blue has been saying this itself since 2023 IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code ...

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere. IBM stock was down 10% on Monday afternoon after Anthropic published a blog ...

The Amazon- and Google-backed AI startup said its latest tool would make it easier to update decades-old business software.

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The ...

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