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Artificial intelligence company Anthropic announced that its Claude platform can streamline COBOL code, a key profit center for IBM.
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IBM shares plunged nearly 13% on Monday after Anthropic published a blog post arguing that its Claude Code tool could automate much of the complex analysis work involved in modernizing COBOL, the decades-old programming language that still underpins an estimated 95% of ATM transactions in the United States and runs on the kind of mainframe systems IBM has sold for generations. Anthropic said the shrinking pool of developers who understand... Read more ›
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23.02.2026 18:29
Last update: 18:20 EDT.
News rating updated: 01:20.
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