International Business Machines Corporation stock plunges; downgrade IBM to Hold as Anthropic's Claude Code threatens ...

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core mainframe business. This AI advancement could compress years-long, costly ...

IBM’s ( IBM) Software and Chief Commercial Officer, Rob Thomas, wrote in a Monday blog post that translating COBOL code isn’t equivalent to modernizing enterprise systems, emphasizing that platform ...