IBM Shares Plummet 13%—Worst Day Since 2000—After Anthropic Launches Programming AI Tool

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

Code shock: Anthropic’s Cobol claim erases $30-billion from IBM’s market cap

Anthropic's AI tool Claude's ability to modernize Cobol code caused IBM shares to plummet, wiping out billions in market cap.

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 ...

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.

Anthropic's new AI tool can write 67-year-old COBOL code, sending 115-year-old IBM's stock tumbling by 13% — IBM stock has worst day in 26 years, down 25% Mo…

Besides being an absolute pain to deal with, they all rely on COBOL and IBM mainframe computers as core infrastructure. The ...
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Crypto suffers deeper declines as AI fears send IBM plunging 11%

Artificial intelligence company Anthropic announced that its Claude platform can streamline COBOL code, a key profit center ...

Investors look for signs of bottom in software rout after Anthropic announcement

Investors were looking anew for signs of a bottom in beleaguered shares of software companies on Tuesday after an announcement that artificial intelligence startup Anthropic was partnering with an ...

US software stocks climb as Anthropic announcement sparks relief rally

Shares of U.S. software companies that entered into partnerships with AI startup Anthropic on Tuesday helped lead a rebound in ‌the sector that has been hammered by fears about the disruptive impact ...