JPMorgan Says It Has Put $5 Billion Into Companies Behind U.S. National Security in the First Year of Its Resiliency Push
The bank says it has also financed or facilitated more than $230 billion across defense, energy, minerals, AI and medicine supply chains, and will now try to make strategic projects easier to finance.
JPMorgan Chase says it has put $5 billion of its own money into companies that underpin U.S. national security.
The program. The bank announced Monday that the money went out through its Security and Resiliency Initiative, run by its Strategic Investment Group. Fox Business describes the initiative as a $1.5 trillion effort launched last year. JPMorgan says it has financed and facilitated more than $230 billion to support industries, supply chains and technologies it considers critical to long-term security and economic resilience.
The equity piece. The group committed $5 billion of an initial $10 billion equity allocation in the first year. The money went into venture, growth and later-stage companies, in the form of direct equity investments. JPMorgan says recent investments have backed next-generation defense technology, distributed battery storage, automated manufacturing and frontier technologies.
The five areas. The bank says the $230 billion in transactions supported defense technology companies and manufacturers as they scale, suppliers to the defense industrial base, next-generation nuclear and geothermal energy, domestic critical minerals and metals capacity, AI, cybersecurity and quantum computing, and critical medicine production and supply chains.
What officials said. CEO Jamie Dimon said, "Strong economies and national security don't happen by accident. They require investment in critical infrastructure, manufacturing, energy, defense and innovation, as well as policies that encourage growth." Todd Combs, head of the Strategic Investment Group, said the aim is "to find generational companies and partner with them for the long term."
Year two. JPMorgan says it will now try to turn what it has learned into action by backing companies that can expand critical capacity, building structures that make strategic projects financeable, strengthening supplier and workforce networks, and expanding cross-border policy coordination.
Note for readers: the figures are the bank's own, as relayed by Fox Business. Fox did not name the companies that received the $5 billion. This report was published Oct. 20 and is included here as part of our Oct. 23 economy coverage.