JPMorgan Slaps Spending Limits on AI-Powered Employees

JPMorgan has implemented $2,000 monthly spending limits for some employees using Claude Code. This cap is part of a broader effort to refine its AI use amid ballooning costs and risks.

The bank has carefully tracked its engineers' AI usage for months, but this is the first indication of AI spending or token caps.

JPMorgan's Chief Financial Officer Jeremy Barnum said during the bank's second-quarter earnings call that while token expenses were at that point 'trivial,' the bank is forecasting some meaningful acceleration in that number for the second half of the year.