The bank said roughly $10 billion in initial funding would go into companies across four areas, which include defense and aerospace.
JPMorgan Chase (JPM) said Monday it plans to invest $1.5 trillion over the next decade in industries deemed vital to U.S. economic and national security.
The bank said roughly $10 billion in initial funding would go into companies across four areas, which include defense and aerospace, “frontier” technologies including AI and quantum computing, energy technology including batteries, and supply chain and advanced manufacturing. Those categories are further divided into 27 sub-sectors, ranging from shipbuilding and nuclear energy to nanomaterials and critical defense components.
JPM’s stock gained 1.2% in pre-market trade. On Stocktwits, retail sentiment remained in the ‘extremely bullish’ zone amid ‘high’ levels of chatter.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing — all of which are essential for our national security,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase. “Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need.”
Dimon said the bank’s new initiative includes efforts to strengthen access to life-saving medicines and critical minerals, bolster the defense sector, and expand energy infrastructure to support AI-driven power demand. “Our support of clients in these industries remains unwavering,” he added.
JPM’s stock has gained nearly 25% this year and more than 40% over the past 12 months.
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