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Claude Code and COBOL modernization: What’s the reality? | Thoughtworks United States

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Anthropic's blog post about Claude Code and COBOL modernization seriously hit IBM's market value. But what's the reality?

Claude Code and COBOL modernization: What’s the reality? | Thoughtworks United States Claude Code and COBOL modernization: What’s the reality? Unpacking Anthropic's market-shaking blog post Articles Back Close Generative AI Article By Alessio Ferri and Shodhan Sheth Published: March 02, 2026 AI giant Anthropic recently explained how developments in Claude Code are transforming COBOL modernization . In doing so it shook IBM (and its investors) — the company has a huge share of the mainframe modernization market. At Thoughtworks, however, the piece excited us — while also prompting a wry smile:

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