JPMorgan Chase said it plans to invest as much as $10 billion in direct equity and venture capital stakes in companies operating within key industries such as artificial intelligence, mineral producers, and defense.
The strategy is part of a wider "security and resiliency" plan by the country’s largest bank to commit $1.5 trillion in future financing and spending on industries critical to national and economic security in the US and allied nations, according to a press release.
JPMorgan CEO Jamie Dimon said that the plan is aimed at speeding up investments in these critical industries where the US and its allies have become hampered domestically and overly reliant on foreign supply chains.
"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,” Dimon said in the press release.
Yahoo Finance
JPMorgan Chase said it plans to invest as much as $10 billion in direct equity and venture capital stakes in companies operating within key industries such as artificial intelligence, mineral producers, and defense.
The strategy is part of a wider "security and resiliency" plan by the country’s largest bank to commit $1.5 trillion in future financing and spending on industries critical to national and economic security in the US and allied nations, according to a press release.
JPMorgan CEO Jamie Dimon said that the plan is aimed at speeding up investments in these critical industries where the US and its allies have become hampered domestically and overly reliant on foreign supply chains.
"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,” Dimon said in the press release.
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