JPMorgan cuts off Anthropic AI access for Hong Kong staff amid tightening US export controls

JPMorgan cuts off Anthropic access for Hong Kong staff

The bank pulled Claude from its approved-tools list in Hong Kong over licensing terms, the second Wall Street firm to do so. JPMorgan Chase has stopped its staff in Hong Kong from using Anthropic's AI models, according to the Financial Times, a quiet decision with loud implications. The bank removed Anthropic's Claude from the internal drop-down list of approved large language models available to employees in the territory, the FT reported, leaving them without access to one of the tools their colleagues elsewhere can still use. The reason, per the report, was not performance but paperwork. The wording of Anthropic's usage terms in its licensing agreement with JPMorgan prompted the bank to pull Claude from the approved list in Hong Kong specifically. The detail matters: this is a contractual and jurisdictional decision, not a verdict on the model, and it isolates the restriction to one of the most geopolitically sensitive financial hubs in the world. JPMorgan is not the first major bank to do this. Goldman Sachs removed Claude from the list of approved tools available to its Hong Kong-based bankers in April, the FT noted, which makes JPMorgan's move the second from a Wall Street institution in a matter of weeks. Two of the largest US banks reaching the same conclusion about the same vendor in the same city is the kind of pattern that tends to precede an industry norm. The backdrop is the steadily tightening US position on advanced AI and China. Washington has grown increasingly anxious about where the most capable American models end up and who can use them, and that anxiety has hardened into policy. US Commerce Secretary Howard Lutnick ordered Anthropic to suspend exports of its most advanced models, including for foreign nationals, citing the risk that they could be diverted to military or intelligence users in China, Russia, and other countries of concern. For banks, Hong Kong sits awkwardly in that picture. It is a Chinese territory and a global financial centre at once, and any tool whose licensing terms create ambiguity about cross-border data or access becomes a compliance question rather than a productivity one. Removing Claude from the approved list there is the cautious answer, the kind institutions reach for when the cost of getting it wrong is regulatory rather than commercial. There is an irony in the timing for Anthropic, whose ties to Wall Street have been deepening even as its access narrows. The company has lined up Morgan Stanley and Goldman Sachs to lead its IPO, with JPMorgan also reported to be working on the deal, and has built enterprise partnerships across the finance industry. The same banks selling Anthropic to public markets are restricting its use in certain offices. The contradiction runs deeper than IPO underwriting. Anthropic has spent the past year embedding Claude across the financial sector, from a $1.5bn enterprise joint venture with Wall Street partners to deployments inside banks piloting the model for accounting and compliance work. The Hong Kong restriction does not undo any of that; it carves a single jurisdiction out of an otherwise expanding relationship. But it marks the first visible place where geopolitics, rather than capability or cost, sets the boundary of where Claude can be used. For Anthropic, the timing is awkward in another sense. The company is courting public-market investors at a reported valuation in the hundreds of billions, a number that rests partly on the breadth of its enterprise reach. Each bank that pulls Claude in a sensitive market is a small dent in that story, and a reminder that a frontier AI vendor's addressable market is now shaped as much by export policy as by product quality. The licensing language that tripped the restriction is the kind of detail that becomes load-bearing in a fractured regulatory landscape. Neither JPMorgan nor Anthropic has commented publicly on the specifics beyond the FT's account, and it is not clear whether the restriction will extend to other jurisdictions or be resolved through revised licensing terms. What is established is the fact of it: a second Wall Street bank has pulled Claude from its Hong Kong toolset, and the reason points less at the technology than at the widening fault line running through it.

'Do not use': US banking giants JPMorgan and Goldman Sachs restrict Anthropic AI access abroad. Here's why

Major US banks, JPMorgan Chase and Goldman Sachs, have restricted employees outside the US from using advanced AI tools like Anthropic's Claude. This move signals growing global concerns over AI governance and potential national security risks, prompting US authorities to tighten export controls. European nations are also pushing for 'sovereign AI' to reduce reliance on US technology. Two of America's biggest investment banks, JPMorgan Chase and Goldman Sachs, have reportedly told employees outside the US not to use Anthropic, in a move that highlights rising global scrutiny over advanced AI tools. Both banks have sent a 'Do not use' note on Anthropic to employees outside the US. According to the Financial Times, JPMorgan has restricted staff in Hong Kong from accessing Anthropic's Claude models, following a similar step earlier taken by Goldman Sachs. The decision signals growing caution among major financial institutions over how AI tools are governed outside the United States. ALSO READ: Arizona family left stunned after finding human remains inside urn ordered from Amazon JPMorgan blocks Claude access in Hong KongEmployees at JPMorgan in Hong Kong can no longer select Anthropic's Claude models from the internal list of approved large language models, according to people familiar with the matter. The move reportedly follows concerns linked to Anthropic's usage terms and regional restrictions embedded in licensing agreements with corporate clients. One person cited in the report said the decision was influenced by the wording of Anthropic's contract terms with JPMorgan. ALSO READ: Texas Rice University students raise $1.85 million to build drone network for life-saving medical deliveries Goldman Sachs had earlier taken a similar approach, restricting bankers in Hong Kong from using Anthropic tools after adopting a strict interpretation of usage rules related to Greater China. Why Hong Kong is at the center of AI restrictionsWhile mainland China blocks Western AI tools such as ChatGPT and Claude under the country's "Great Firewall," Hong Kong has traditionally maintained broader access to global digital platforms. However, US-based AI companies often impose their own regional restrictions, especially in sensitive jurisdictions. The latest move reflects how global AI access is becoming increasingly fragmented, with companies applying different compliance rules across regions. US government tightens oversight on AI exportsThe restrictions come amid rising political pressure in Washington over advanced AI models. US Commerce Secretary Howard Lutnick recently sent a letter to Anthropic CEO Dario Amodei directing the company to suspend exports of its advanced models to certain foreign users, citing national security risks. The directive reportedly includes limits on distributing models such as "Mythos" and "Fable" to foreign nationals without government approval, due to concerns about potential military use in countries like China and Russia. Europe reacts to growing AI controlsThe US move has also sparked concern in Europe, where policymakers fear over-reliance on American AI infrastructure. European leaders are increasingly pushing for "sovereign AI" capabilities to reduce dependency on US technology firms. French President Emmanuel Macron has led discussions with G7 leaders and tech executives on ensuring access to advanced AI models through trusted partnerships. German Chancellor Friedrich Merz also emphasized the need for coordination with Washington, saying: "I very much hope that we will have an intensive coordination with the American government, because the potential of these new technologies should be available for all countries." The latest restrictions highlight a widening divide in how AI technologies are regulated and distributed worldwide. As banks, governments and AI companies tighten rules, access to frontier models is becoming increasingly dependent on geography, regulation and security assessments -- reshaping how global AI adoption unfolds.

JPMorgan Restricts Hong Kong Staff's Access To Anthropic's AI Models Amid US National Security Crackdown:

JPMorgan Chase & Co. (NYSE:JPM) reportedly cut off Hong Kong employees' access to Anthropic's AI models, facing pressure from both Washington and Anthropic itself. The wording of Anthropic's usage terms in its licensing agreement with JPMorgan prompted the bank to remove Claude models from an internal drop-down list of approved large language models available to staff in the Asian financial hub, according to a report by the Financial Times, citing sources familiar with the matter. JPMorgan did not immediately respond to Benzinga's request for comment. White House Security Concerns Triggered The Shutdown The order stems from a directive issued earlier this week by Commerce Secretary Howard Lutnick, instructing Anthropic to halt exports. Wall Street's Access Curbs Anthropic has separately barred its products from use in mainland China, wary that Chinese AI firms could train their own models on its outputs through so-called "distillation attacks." Trading Metrics JPMorgan has a market capitalization of $871.43 billion. The stock has traded between a 52-week high of $338.09 and a 52-week low of $272.11. Over the past 12 months, the stock has gained 18.26%. Price Action: According to Benzinga Pro data, JPM closed the regular session at $325.22, down 2.47%. Benzinga's Edge Stock Rankings indicate that JPM is experiencing long-term consolidation along with medium and short-term upward movement. Photo courtesy: Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

JPMorgan blocks Anthropic AI access for Hong Kong staff, FT reports

June 18 (Reuters) - JPMorgan Chase has stopped its staff in Hong Kong from accessing Anthropic's AI models, in a sign of intense scrutiny on the technology's use outside the U.S., the Financial Times reported on Thursday, citing three people familiar with the matter. The wording of Anthropic's usage terms in its licensing agreement with JPMorgan prompted the bank to remove Claude models from an internal drop-down list of approved large language models available to employees in the Asian financial hub, the report said. The move follows a similar decision by Goldman Sachs, which in April removed Claude from a list of approved tools available to its Hong Kong-based bankers. JPMorgan and Anthropic did not respond to Reuters' requests for comment outside business hours. Reuters could not immediately verify the report. The restrictions by the two Wall Street banks come amid rising U.S.-China tensions over AI technology, data security and access to advanced computing tools. While AI models built by U.S. firms are not available in mainland China, Hong Kong has largely remained a market ?where some models operate, with usage limits set by U.S. companies. Earlier this week, U.S. Commerce Secretary Howard Lutnick, in a letter to Anthropic CEO Dario Amodei, ordered the company to suspend exports of its Mythos and Fable AI models to destinations worldwide and all foreign nationals, citing concerns they could be used by military intelligence users in China, Russia and other countries of concern. U.S. President Donald Trump said ?on Wednesday that negotiations with Anthropic are "going fine." (Reporting by Devika Nair in Bengaluru; Editing by Sonia Cheema and Harikrishnan Nair)