Anthropic's AI Tool Shakes IBM: Unpacking the Significance

Entertainment National Sports Markets Business & Economy Lifestyle World Astrology & Religion Technology Education & Jobs Auto Politics Viral Opinions

Loading more articles...

Anthropic's AI Tool Jolts IBM Shares, Sparks COBOL Modernization Fears

IBM introduced its own AI-powered mainframe coding assistant in 2023, designed to help clients analyse and convert COBOL into modern languages such as Java.

M

Moneycontrol•24-02-2026, 08:54

Anthropic's AI Tool Jolts IBM Shares, Sparks COBOL Modernization Fears

•IBM shares slid sharply after Anthropic unveiled an AI tool for COBOL systems, raising concerns about disruption to IBM's core services.
•Anthropic's new AI aims to reduce the cost and complexity of managing COBOL, a legacy language critical for 95% of US ATM transactions and other major industries.
•The AI can analyze COBOL codebases, detect risks, and lower modernization costs, potentially pressuring traditional modernization and consulting services.
•This sell-off is part of a broader AI-driven market trend, echoing earlier volatility from AI legal tools and concerns about "vibe coding" reducing demand for legacy platforms.
•IBM had previously introduced its own AI-powered mainframe coding assistant in 2023 to help clients analyze and convert COBOL to modern languages like Java.

Read Full Article on Moneycontrol in English

✦

More like this

✦

More like this

मार्च 2020 के बाद यह आईबीएम शेयर का एक दिन का सबसे खराब प्रदर्शन है.

IBM Shares Plummet 13% as Anthropic's AI Threatens Mainframe Business

Anthropic plans a massive expansion onto Google TPUs, aiming to use up to one million units — a deal worth tens of billions of dollars and one of the largest commitments in the AI hardware race. Meta, the company behind Facebook and Instagram, is also in talks to bring Google’s TPUs into its data centres.

IBM Stock Plunges 13%: 'Big Blue' Suffers Worst Single-Day Fall in 25 Years

ibm-share-crash-13-percent-after-anthropic-ai-tool-cobol-impact-explained

IBM Shares Plunge 13.1%: Anthropic AI's New Tool Sparks Market Fear

Speaking on the WTF is with Nikhil Kamath podcast, Amodei said Anthropic wants to work closely with Indian companies to integrate AI into their existing offerings.

Anthropic Founder: AI Will Enhance, Not Replace SaaS And IT Firms

IT shares crash today

Nifty IT Index Crashes 5% Amid AI Disruption Fears; TCS, Infosys Lead Losses

Representational image (Image: News18)

Cybersecurity Stocks Plunge as Anthropic Unveils AI Code Security Tool