IBM Plunges After Anthropic's Latest Update Takes on COBOL
a day ago
- #AI
- #COBOL
- #IBM
- Anthropic's Claude can now automate COBOL modernization, impacting IBM's lucrative COBOL ecosystem.
- COBOL is critical for US ATM transactions and other sectors but lacks modern expertise.
- AI tools like Claude Code can analyze and document COBOL systems, aiding modernization efforts.
- IBM stock plunged $15 as the market reacted to Claude's COBOL disruption.
- Anthropic's incremental updates may be a self-funding strategy via market disruptions.
- OpenAI might follow a similar strategy given its capital needs.