Bessent Urgently Summons Bank CEOs to Discuss Anthropic’s New AI

Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell summoned Wall Street leaders to an urgent meeting on concerns that the latest artificial intelligence model from Anthropic PBC will usher in an era of greater cyber risk.

Bessent and Powell assembled the group at Treasury’s headquarters in Washington on Tuesday to make sure banks are aware of possible future risks raised by Anthropic’s Mythos and potential similar models, and are taking precautions to defend their systems, according to people familiar with the matter who asked not to be identified citing the private discussions.

A representative for the Treasury didn’t immediately respond to a request for comment. A spokesperson for the Fed declined to comment.

Scott Bessent

Photographer: Kent Nishimura/Bloomberg

The previously unreported meeting, arranged on short notice, is another sign that regulators consider the possibility of a new breed of cyber attacks as one of the biggest risks facing the financial industry. All the banks summoned to the meeting are classified as systemically important by top regulators, meaning their stability is a priority for the global financial system.

Anthropic’s Mythos is a more powerful system that the AI firm has said is capable of identifying and then exploiting vulnerabilities in every major operating system and web browser when directed by a user to do so.

Jerome Powell

Photographer: Mel Musto/Bloomberg

Regulators’ caution about the power of the model in hackers’ hands echoes Anthropic’s own prudence. Anthropic has limited the release of it to just a few major technology and finance firms at first. Those companies, which include Amazon.com Inc. and Apple Inc. as well as JPMorgan Chase & Co., are part of “Project Glasswing,” which will work to secure the most important systems before other similar AI models become available.

Anthropic has said that it has been in discussions prior to its recent release with US officials about Mythos and its “offensive and defensive cyber capabilities.”

Read More: Anthropic’s Mythos Model Heralds New Era for AI Releases: Q&AI

Chief executive officers summoned to the meeting with the Fed and Treasury include Citigroup Inc.’s Jane Fraser, Morgan Stanley’s Ted Pick, Bank of America Corp.’s Brian Moynihan, Wells Fargo & Co.’s Charlie Scharf, and Goldman Sachs Group Inc.’s David Solomon, said the people. JPMorgan’s Jamie Dimon was unable to attend, the people said.

Spokespeople for the banks declined to comment. A representative for Anthropic had no immediate comment.

Anthropic has separately been battling the Trump administration in court. The Pentagon had labeled the company as a supply-chain risk, a designation that Anthropic has opposed. Earlier this week, a federal appeals court declined, at least for now, Anthropic’s request that it put a pause to the Pentagon’s designation.

--With assistance from Josh Wingrove, Katherine Doherty, Yizhu Wang, Shirin Ghaffary, Lydia Beyoud and Nancy Cook.

To contact the reporters on this story:
Todd Gillespie in New York at tgillespie30@bloomberg.net;
Katanga Johnson in Washington at kjohnson655@bloomberg.net;
Hannah Levitt in New York at hlevitt@bloomberg.net;
Sridhar Natarajan in New York at snatarajan15@bloomberg.net

To contact the editors responsible for this story:
Katherine Chiglinsky at kchiglinsky@bloomberg.net

David Scheer, Peter Eichenbaum

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