On3, 2026, Anthropic unveiled Claude Code, an AI tool capable of modernizing decades-old COBOL systems in months rather than years.

IBM or International Business Machines Corp had its worst day on stock market in more than 25 years on Monday, February 23.

IBM stock plunged on Claude Code COBOL fears, but Jefferies says IBM’s watsonx is already modernizing mainframes with GenAI—read more now.