IBM is the latest AI casualty. Shares tank 13% on Anthropic programming language threat

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

Explainer: How Claude Code threatens to disrupt IBM’s mainframe biz

On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.

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

IBM Share Price Drop: "Modernizing a COBOL system once required armies of consultants ⁠spending years ‌mapping workflows.

Explained | What is COBOL? How an Anthropic Claude blog wiped $30 billion off IBM in a single session

A blog post from Anthropic caused IBM's market value to drop over $30 billion due to concerns about COBOL. Here's everything you need to know about COBOL and the now viral blog from Anthropic ...

IBM Sinks Most Since 2000 as Anthropic Touts Cobol Tool

With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, ...

IBM stock tumbles 10% after Anthropic launches COBOL AI tool

IBM (NYSE:IBM) shares hit a session low Monday afternoon, falling 10%, after Anthropic announced an AI tool designed to streamline COBOL code modernization. Accenture (NYSE:ACN) and Cognizant ...

IBM stock plunges after AI tool targets its legacy systems

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