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$IBM down over 10% after Anthropic launches an AI tool that converts old COBOL code to modern languages.

AI code translation directly competes with IBM's legacy modernization consulting.

>$IBM down over 10% after Anthropic launches an AI tool that converts old COBOL code to modern languages. > AI code translation directly competes with IBM's legacy modernization consulting.
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[–] • 0 pt

Right. I just found it funny how IBM stock went down at the slightest hint of the possibility. They probably charge an arm and a leg for those maintenance contracts.

As for COBOL, I heard it's a nice language.