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

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

Anthropic launched Claude Code, an AI tool aimed at automating modernization of COBOL on mainframes, raising questions about IBM’s legacy consulting and modernization work. The development has sparked ...

IBM is the latest victim to investor fears about Anthropic's AI code.

IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere. IBM stock was down 10% on Monday afternoon after Anthropic published a blog ...

IBM stock fell over 13% in a single trading session, raising its forward dividend yield to 3% right now.

The announcement reignited fears that generative AI could disrupt traditional enterprise software and consulting revenue streams ...

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

Following the recent selloff, IBM’s valuation has become more compressed, according to analysts. The stock now trades at ...

IBM's push to create systems that can manage themselves is moving from the drawing board to the commercial development community. The company plans to release on Monday an open-source toolkit that ...