Following an Anthropic blog post covering the use of AI in code modernization, IBM stock collapsed more than 13%.
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IBM stock plunges 13% after Anthropic AI challenges core business
IBM's market value drops $25 billion as AI threatens its lucrative COBOL modernization business, sparking a historic stock ...
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18hOpinion
IBM falls most since 2000 after Anthropic COBOL AI claims; Thomas says translation isn’t modernization
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 ...
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