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Investors wiped $40 billion from IBM's market cap after Anthropic released COBOL translation tools. Analysts say the market ...

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After Anthropic introduced a tool for automating time-consuming COBOL modernization, IBM's stock plummeted over 13 percent.

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With the decline, IBM shares have fallen 27% in February, on track for its biggest one-month slide since at least 1968, according to data compiled by Bloomberg. “Modernizing a Cobol system once ...

Anthropic unveiled new Claude functionality that can modernize COBOL code faster at scale, triggering a sharp drop in IBM ...