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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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IBM business model at risk? Anthropic's Claude can modernise COBOL code; stocks fall 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 ...
IBM stock plunged on Claude Code COBOL fears, but Jefferies says IBM’s watsonx is already modernizing mainframes with GenAI—read more now.
AI agents like Claude Code are reshaping software development by automating legacy modernisation and routine coding. A recent ‘casualty’ of this was the legendary firm IBM, whose stocks fell.
On 23 Feb 2026, IBM shares dropped 13%, losing nearly $30B, after Anthropic's Claude AI promised faster COBOL modernization, threatening legacy IT services dependent on scarce expertise.
After several weeks of testing, Apple today released Xcode 26.3, an update that allows developers to use tools like Anthropic ...
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