The latest selloff was triggered by a new legal tool from Anthropic’s Claude large language model (LLM).
The tool – a plug-in for Claude’s agent for tasks across legal, sales, marketing and data analysis – underscored the push by LLMs into the so-called “application layer,” where these firms are increasingly muscling into lucrative enterprise businesses for revenue they need to fund massive investments. If successful, investors worry, it could wreak havoc across a range of industries, from finance to law and coding.
Ah yes “experts” from JPMorgan, they are part of $6.5B position in AI debt.
OpenAI
Oct 07, 2024
$4B
Conventional Debt
Wells Fargo, UBS, Sumitomo Mitsui Banking Corporation, Santander, Morgan Stanley, JPMorgan Chase, HSBC, Goldman Sachs, CitiAnthropic
May 16, 2025
$2.5B
Conventional Debt
JPMorgan Chase, Citi Ventures, Goldman Sachs, Barclays, RBC Royal Bank, MUFG, Morgan StanleyIt is curious how business articles never quote labor leaders or people with a larger interest in the commons/public domain than private equity and capital.
Broke: AI will cause an existential threat to humanity (because it’s powerful)
Woke: AI will cause an existential threat to its own industry (because it’s worthless)
