Banks bar Chinese and Hong Kong investors from Anthropic IPO over US export controls

What happened

Banks bar Chinese and Hong Kong investors from Anthropic IPO (the sale of a company’s shares to the public on a stock exchange) over US export controls, according to The Decoder. Chinese investors are shut out of Anthropic's IPO, Bloomberg reports. Banks are rejecting buy orders from mainland China and Hong Kong, citing U.S. Anthropic is an artificial intelligence company based in San Francisco.

Similar restrictions applied during SpaceX's IPO, and Anthropic's products aren't available in either region anyway.

Multiple banks have reportedly rejected buy orders from those regions or consider allocations unlikely, with some of the people involved citing ITAR, the US export control rules governing defense-related goods, as the reason. Goldman Sachs and Morgan Stanley are leading the offering, with 20 other banks involved.