JPMorgan Chase said Monday it is launching a 10-year plan to help finance and take direct stakes in companies it considers crucial to U.S. interests.
The bank said in a statement it would invest up to $10 billion in companies in four areas: defense and aerospace, “cutting edge” technologies including AI and quantum computing, energy technologies including batteries, and supply chain and advanced manufacturing.
The money is part of a broader effort, called the Security and Resilience Initiative, in which JPMorgan said it would fund or facilitate $1.5 trillion in funding for companies it identifies as critical. The total amount is 50% higher than the previous plan.
“It has become painfully clear that the United States has allowed itself to become overly dependent on unreliable sources of critical minerals, products and manufacturing, all of which are essential to our national security,” JPMorgan CEO Jamie Dimon said in the statement.
As the largest U.S. bank by assets and a Wall Street heavyweight, JPMorgan was already raising funds and lending money to companies in these sectors. But the move helps organize the company’s operations around national interests at a time of heightened tensions between the United States and China.
Markets fell Friday as President Donald Trump announced new tariffs on Chinese imports after the United States’ biggest trading partner tightened export controls on rare earths.
In the statement, Dimon said the United States must “eliminate obstacles,” including excessive regulations, “bureaucratic delays” and “partisan gridlock.”
JPMorgan said that across the four broad areas, there were 27 specific industries that it would seek to support with advice, financing and investment. This includes areas as diverse as nanomaterials, autonomous robots, spacecraft and space launches, as well as nuclear and solar energy.
“Our security relies on the strength and resilience of the American economy,” Dimon said. “This new initiative includes efforts such as ensuring reliable access to life-saving medicines and essential minerals, defending our nation, building energy systems to meet AI-driven demand, and advancing technologies such as semiconductors and data centers.”
The bank said it would hire an unspecified number of bankers and create an external advisory board to support its initiative.
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