IBM share price crash (AI image)

IBM share price crash: Anthropic’s latest business move has hit shares of International Business Machines Corp or IBM hard. The stock tumbled on Monday after artificial intelligence startup Anthropic announced that its Claude Code tool can assist in upgrading COBOL, an aging programming language predominantly operated on IBM systems.In a blog post, Anthropic said that updating COBOL systems traditionally required large teams of consultants working for years to map complex workflows. However, it noted that “tools like Claude Code can automate the exploration and analysis phases that consume most of the effort in COBOL modernization.”

IBM Shares Crash

Since the majority of mainframe computers running…