Anthropic’s claim that AI can quickly refactor COBOL rattles IBM investors
Anthropic’s assertion that its agentic coding tool Claude Code can rapidly refactor legacy COBOL code has unsettled IBM investors, triggering a sell-off in shares, which resulted in the stock registering a 13% drop on Monday — its biggest single-day drop since October 2000. The assertion came in the form of a blog post from Anthropic…

