No. of Recommendations: 3
“ JPMorgan is piling in on what it views as critical to protecting U.S. security, with plans to invest up to $10 billion as part of a broader $1.5 trillion initiative. It is the latest big company commitment as the Trump administration touts patriotic efforts by the private sector.
The nation’s largest bank said it would make direct equity and venture capital investments as part of a decadelong plan that it calls the Security and Resiliency Initiative, aimed at facilitating and financing investments in defense and aerospace, critical minerals, pharmaceuticals, and quantum computing.
Longtime CEO Jamie Dimon says it’s a commercial endeavor not driven by the current administration in Washington, and he hadn’t talked to anyone in government about it. They plan to “scour the United States—and maybe the world—for new opportunities,” Dimon said.
Autonomous mobile robots, nuclear energy, solar, spacecraft, shipbuilding, and artificial intelligence are among subsectors it is initially targeting. It is hiring bankers, investment professionals, and other experts to support the investments.
JPMorgan’s announcement builds on years of its investments in the U.S. economy under different administrations, economic conditions, and political backdrops. The White House has touted recent private sector investments, including pledges to build manufacturing in the U.S.” Barron’s.
