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Anthropic's Claude Code Targets COBOL, Spooking IBM and Investors

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Source: CNBC
Anthropic's Claude Code Targets COBOL, Spooking IBM and Investors
Photo: CNBC
TL;DR Summary

IBM stock fell about 13% after Anthropic said Claude Code could automate COBOL modernization, threatening IBM’s legacy mainframe business since COBOL underpins many critical systems (including the majority of U.S. ATM transactions); the AI disruption adds to market jitters and IBM has slumped more than 24% year-to-date.

Topics:business#ai#anthropic#cobol#ibm#legacy-code#technology
Share this article
  1. IBM is the latest AI casualty. Shares are tanking 11% on Anthropic programming language threat  CNBC
  2. IBM stock tumbles 10% after Anthropic launches COBOL AI tool  Investing.com
  3. Bitcoin price news: BTC tumbles back to $64,000 as IBM becomes latest AI target  CoinDesk
  4. IBM Shares Plunge as Anthropic Touts COBOL Modernization Efforts  Bloomberg.com
  5. IBM Becomes Latest Victim Of Anthropic’s AI Developments  Forbes

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