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The IBM-Anthropic-COBOL selloff was nonsense
When Anthropic announced COBOL-modernization deals with GSIs in February 2026, IBM shares sold off and CNBC declared the company an AI casualty. On Episode 294 of The Six Five Pod, Patrick Moorhead went on the record calling the trade a misread: IBM makes more profit dollars moving clients off COBOL than losing them, the mainframe cannot be ...
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