What is COBOL, the high-level programming language that is behind biggest-ever fall in IBM stock value
AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a modernization challenge. Anthropic's tool promises to drastically reduce the time and cost of translating COBOL to modern languages, threatening IBM's mainframe business model.
AI startup Anthropic's claim of automating COBOL modernization sent IBM's stock plummeting, wiping billions off its market value. The decades-old language, still powering critical systems, faces a modernization challenge. Anthropic's tool promises to drastically reduce the time and cost of translating COBOL to modern languages, threatening IBM's mainframe business model.
