AI can translate COBOL code, but that's the easy part. Here's what investors missed on Feb. 23.

IBM’s share price slumped by 13 percent on Monday, seemingly caused by investors reacting to an Anthropic blog post that points out its Claude Code tools can accelerate refactoring of apps written in ...

COBOL, or Common Business Oriented Language, is one of the oldest programming languages in use, dating back to around 1959. It’s had surprising staying power; according to a 2022 survey, there’s over ...

IBM or International Business Machines Corp had its worst day on stock market in more than 25 years on Monday, February 23. The 100-year-old IT giant saw its market value plunge by billions on fears ...

The stock closed 13.2 per cent lower at $223.35 on the New York Stock Exchange. The sharp fall reflects investor concern that AI could disrupt one of IBM’s most entrenched revenue streams — mainframe ...

Apparently because the AI Claude Code from Anthropic can take over particularly time-consuming processes when updating source code in COBOL, IBM's share price fell by more than 13 percent on Monday.

COBOL stands for Common Business-Oriented Language and was created in 1959. It was partly drawn on the work of computing pioneer Grace Hopper and was built for a single purpose: processing business ...