IBM still profits from mainframes running decades-old COBOL systems. Anthropic says AI can migrate that software elsewhere.

IBM stock dropped 13% on Monday after Anthropic said that its Claude Code tool could be used to automate the modernization of legacy code. IBM mainframes, computers that process a large portion of the ...

Large language models capable of writing and refactoring computer code have proliferated over the past year. These tools don't really replace programmers -- writing code is as much art as science. But ...