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

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

International Business Machines Corp. shares had their worst day in more than 25 years on Monday, after AI startup Anthropic ...

Feb 23 (Reuters) - Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI startup Anthropic said its Claude Code tool could be used to ...

COBOL is a programming language widely used on IBM mainframes across banking, insurance and government systems ...

Since the majority of mainframe computers running COBOL are produced by IBM, the development triggered heavy selling in the ...

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Shares of International Business Machines recorded their steepest daily drop in more than 25 years on Monday, after AI ...

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

Following an Anthropic blog post covering the use of AI in code modernization, IBM stock collapsed more than 13%.