JPMorgan Chase has announced a decade-long initiative to finance and invest directly in companies deemed vital to U.S. interests. The bank said in a statement that it plans to invest up to $10 billion across four key sectors: defense and aerospace; frontier technologies such as artificial intelligence and quantum computing; energy technologies including batteries and supply chains; and advanced manufacturing.
This is part of the Security and Resiliency Initiative, a broader effort through which JPMorgan plans to finance or facilitate $1.5 trillion in funding for companies it identifies as crucial. The finance giant said the total amount is 50% more than the previous plan.
“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,” JPMorgan CEO Jamie Dimon said in a press release. Dimon also added that the U.S. needs to “remove obstacles” including excessive regulations, “bureaucratic delay” and “partisan gridlock.”
JPMorgan also said that within the four major areas, there were 27 specific industries it would look to support with advice, financing and investments.
“Our security is predicated on the strength and resiliency of America’s economy,” Dimon said. The project “includes efforts like ensuring reliable access to life-saving medicines and critical minerals, defending our nation, building energy systems to meet AI-driven demand and advancing technologies like semiconductors and data centers.”
The bank also said it would hire an unspecified number of bankers and create an external advisory council to support its initiative.
Dimon also told CNBC that the project was an internal effort that started a few months ago, not something done with the Trump administration. He also said that while increasing their financing efforts by 50% over a decade, he didn’t expect “lower-than-commercial returns” on the initiative.
“Obviously, we work closely with people in the government, which we’ve always done, but this is a JPMorgan effort,” Dimon said.
JPMorgan said it will deploy the $10 billion through direct equity and venture capital investments.
This investment has been announced at a time when the Trump administration has been looking to reduce dependence on foreign supply chains, particularly in sectors such as pharmaceuticals, semiconductors, clean energy and rare earths. It also comes shortly after President Donald Trump claimed JPMorgan and another bank rejected him as a customer, reviving claims that conservative clients were being unfairly denied bank accounts. JPMorgan denied targeting conservatives or Trump supporters for de-banking.
JPMorgan stated that the investment was not driven by the Trump administration. “This is a JPMorgan initiative,” he said, emphasizing that the investments would be “100% commercial” and not philanthropic.