Barclays is part of the underwriter group for Fervo Energy’s planned Nasdaq listing, alongside JPMorgan Chase, Bank of America and Royal Bank of Canada, positioning the bank to collect underwriting fees tied to Fervo’s first public offering. Fervo reported a widened net loss of $70.5 million in fiscal 2025, highlighting the capital-intensive nature of geothermal ventures that underwriters must price and market.

CEO C.S. Venkatakrishnan highlighted Anthropic’s AI model Mythos as a “serious” threat to banking cybersecurity, emphasizing its ability to identify system vulnerabilities and exploit them. He warned that more powerful iterations like Mythos 2 and Mythos 3 are inevitable, prompting a cyber arms race and urging banks to strengthen defenses against evolving AI-driven risks.