Labs set the pace, and the controls are still catching up

The IPO sets the price

Anthropic's updated filing puts its IPO price range at $70 to $78 per share. At the midrange of $74, each co-founder would take in just shy of $250 million, and the founders will control 51.1% of the votes. The control line is the one to read next to the price.

Labs widen into daily work

Anthropic is adding Claude Sheets and Claude Whiteboards to the Claude app, and partners like Adobe and Atlassian can embed their apps into Claude. Enterprise customers get security controls, which is the part a bank's risk team would read first.

Banks are still setting limits

In a Dallas Fed survey of 70 bankers, the Federal Reserve Bank of Dallas found that 11.4% of respondents report steps to restrict customers’ AI agent activity. More than a quarter did not know whether it had, and the responses come from the Dallas Fed’s Eleventh Federal Reserve District alone.

Frontier labs face registration

New York opened a registration portal for its RAISE Act on Tuesday. Large frontier AI developers like Anthropic and OpenAI will be required to register by January 1, 2027.

A question for bank teams

When a lab publishes its safety framework, a bank team can read it next to its own answers on AI agent controls. Which of the model providers in your stack has published one?