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

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

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

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While Anthropic’s Claude Code grabbed headlines, IBM has been deploying its own generative AI solution, Watsonx Code Assistant for Z, designed to modernize the very mainframes it built. Unlike general ...

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Following an Anthropic blog post covering the use of AI in code modernization, IBM stock collapsed more than 13%.

IBM shares plunged 13% after Anthropic said its Claude Code can automate COBOL modernisation—threatening a core IBM mainframe and legacy IT services revenue stream tied to the ageing programming ...