Will software engineering profession die in the age of AI? IBM stock bleeds as Claude Code writes COBOL scripts. What it means for techies

AI agents like Claude Code are reshaping software development by automating legacy modernisation and routine coding. A recent ‘casualty’ of this was the legendary firm IBM, whose stocks fell.

Anthropic’s COBOL tool triggers worst single-day drop in 25 years in IBM's stock price: What it is and why it wiped billions of dollar for IBM

IBM shares plummeted after AI startup Anthropic announced its tool can automate COBOL modernization, threatening IBM's core ...

When AI learns legacy: How code that rewrites itself is changing IT economics

On 23 Feb 2026, IBM shares dropped 13%, losing nearly $30B, after Anthropic's Claude AI promised faster COBOL modernization, ...

Explained: Why AI threat to COBOL is worrying for IBM?

The stock closed 13.2 per cent lower at $223.35 on the New York Stock Exchange. The sharp fall reflects investor concern that ...
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Anthropic Study: AI Coding Assistance Reduces Developer Skill Mastery by 17%

Anthropic research shows developers using AI assistance scored 17% lower on comprehension tests when learning new coding ...