AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a modernization challenge. Anthropic's tool promises to drastically reduce the time and cost of translating COBOL to modern languages, threatening IBM's mainframe business model.

Eine Funktion von Claude Code zur Migration von Cobol ließ zu Wochenbeginn die Aktie von IBM abstürzen. Die FOBO macht weiterhin die Runde

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core mainframe business. This AI advancement could compress years-long, costly migration projects into months, impacting recurring revenue from hardware, software, and services. The market reacted swiftly, signaling a potential shift in the legacy IT services landscape.

IBM posts steepest daily drop since 2000 after Anthropic says AI can modernize COBOL  Reuters

Anthropic's new AI tool, capable of writing 67-year-old COBOL code, led to a significant 13% drop in IBM's stock, marking its worst day in 26 years.

IT stocks experienced a sharp decline as Anthropic's Claude Code tool showed potential to modernize legacy COBOL systems. This development triggered concerns about AI's impact on traditional IT servic

IBM’s stock ended Monday down 13% as Anthropic’s Claude Code threatens to dismantle a critical part of its business.