![\"From](\"https:\/\/static.toiimg.com\/thumb\/msid-130162206,imgsize-75012,width-400,height-225,resizemode-4\/from-a-2-trillion-it-stocks-wipeout-to-an-emergency-dc-meetin.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nUS Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell called the heads of America\u2019s biggest banks to an urgent, short-notice meeting at the Treasury Department on Tuesday. The agenda wasn\u2019t interest rates or tariffs\u2014it was Anthropic\u2019s newest AI model and the cybersecurity risks it poses to the financial system.The CEOs of Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo were all in attendance. JPMorgan Chase CEO Jamie Dimon was invited but couldn\u2019t make it. Every bank summoned is classified as systemically important by US regulators. The meeting was first reported by Bloomberg.At the centre of the discussion was Claude Mythos Preview\u2014a new, unreleased AI model from Anthropic that can find and exploit software vulnerabilities better than nearly any human.Anthropic says the model has already uncovered thousands of severe, previously unknown flaws across every major operating system and web browser. One vulnerability in OpenBSD\u2014widely regarded as one of the most secure operating systems in existence\u2014had gone undetected for 27 years. Another, in the widely used video tool FFmpeg, sat in a line of code that automated testing tools had hit five million times without catching the problem.<\/p>\n On Wednesday, Anthropic announced Project Glasswing\u2014a defensive cybersecurity partnership with Amazon, Apple, Google, Microsoft, JPMorgan Chase, and others. The goal is to let these firms use Mythos to find and patch vulnerabilities before similar AI capabilities spread to attackers.Anthropic is putting up to $100 million in usage credits behind the effort and has donated $4 million to open-source security organisations. It has no plans to release Mythos to the public.<\/p>\n Mythos isn\u2019t the first time Anthropic has rattled markets this year. The company\u2019s earlier releases\u2014including Claude Opus and its agent-building tools\u2014helped trigger a roughly $2 trillion selloff in enterprise software stocks, as investors confronted AI\u2019s potential to gut the per-seat SaaS licensing model. If 10 AI agents can do the work of 100 employees, you don\u2019t need 100 software subscriptions. The rout has been dubbed the \u201cSaaSpocalypse.\u201dWhen details of Mythos then leaked in late March through a configuration error at Anthropic, cybersecurity stocks took a further hit as the market processed a new fear\u2014that AI could also commoditise the very security tools meant to protect against it.In his annual shareholder letter, Dimon wrote that cybersecurity remains one of JPMorgan\u2019s biggest risks and that AI will likely make it worse, requiring significant investment in defence. Anthropic says it has been in ongoing discussions with US government officials about Mythos\u2019s offensive and defensive capabilities. The Treasury Department, the Fed, and all the banks involved declined to comment.<\/div>\n\nAnthropic\u2019s Project Glasswing wants to fix the flaws before bad actors find them
<\/h2>\n<\/p>\nA $2 trillion stock wipeout, and now Wall Street gets summoned
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