The IT services company introduced artificial intelligence software automating legacy mainframe application conversion for financial institutions modernizing systems.

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 ...

Whenever the topic is raised in popular media about porting a codebase written in an ‘antiquated’ programming language like Fortran or COBOL, very few people tend to object to this notion. After all, ...

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COBOL was associated with the Y2K phenomenon at the turn of the century, a software problem arising from the inability of ...

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

Investing.com -- 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 ...

Industry leaders say Anthropic’s advances in automating COBOL code could lower migration costs and create new opportunities for IT service firms. HCLTech CEO C Vijayakumar noted modernising mainframes ...

On 23 Feb 2026, IBM shares dropped 13%, losing nearly $30B, after Anthropic's Claude AI promised faster COBOL modernization, threatening legacy IT services dependent on scarce expertise.

Anthropic's AI tool Claude's ability to modernize Cobol code caused IBM shares to plummet, wiping out billions in market cap. While IBM argues code translation isn't full modernization, the potential ...

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 ...

Despite the proliferation of digital banking apps, the banking industry still runs almost half its systems on a 1950s programming language, which makes it difficult for financial institutions to ...