JPMorgan Eases Lending Rules for Tech Firms

JPMorgan Chase has relaxed its lending rules for shares in newly public companies to attract clients from growing tech firms, according to a report by the Financial Times.

The bank typically does not accept shares as collateral for loans if the company went public within the past 135 days. However, it made an exception for SpaceX's initial public offering in June and is expected to do so again when Anthropic goes public.

JPMorgan informed its bankers before SpaceX's IPO that it would lend against shares in Elon Musk's rocket and AI company earlier than usual, the FT reported.