* Reuters article
IBM posts steepest daily drop since 2000 after Anthropic says AI can modernize COBOL
https://www.reuters.com/business/ibm-posts-steepest-daily-drop-since-2000-after-anthropic-says-ai-can-modernize-2026-02-24/
# Part of the content was translated from Claude Sonnet 4.6 and edited.
IBM shares plunged on Monday, marking their biggest one-day drop in more than 25 years. This follows an announcement by AI startup Anthropic that its Claude code tool can be used to modernize programming languages running on IBM systems. IBM shares fell 13.2%, the largest decline since October 18, 2000.
COBOL is a programming language widely used on IBM mainframes across financial, insurance, and government systems.
Anthropic wrote in a blog post on Monday that "Modernizing COBOL systems previously required numerous consultants to analyze workflows over several years. Tools like Claude code can automate the exploration and analysis phases that consume most of the effort in COBOL modernization."
It added, "Introducing AI allows for COBOL codebase modernization to be completed in a few quarters instead of years."
[Rest of content omitted]
* Blog post link.
How AI helps break the cost barrier to COBOL modernization
https://claude.com/blog/how-ai-helps-break-cost-barrier-cobol-modernization
* Related Twitter (X) post
https://x.com/StockSavvyShay/status/2026014535631688128
