Wow!
"JPMorgan Chase said Monday that it would directly invest $10 billion in companies it deems critical to U.S. national security, part of an initiative to help protect the American economy as trade tensions with countries such as China escalate.
The bank said it had committed to facilitating $1.5 trillion in investments for companies deemed “critical to national economic security and resiliency” over the next 10 years. That includes the $10 billion of its own capital it plans to use to take stakes in companies such as defense contractors, mineral manufacturers and artificial-intelligence firms. ..."
"“... 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,” said Jamie Dimon, Chairman and CEO of JPMorganChase. “Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment. It also needs to remove obstacles that stand in the way: excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need.”
The firm’s effort comes at a time when the U.S. is looking to modernize infrastructure, fortify supply chains, and implement policies that promote growth. JPMorganChase will focus on the following four key areas, supporting companies across all sizes and development stages by offering advice, providing financing, and, in some cases, investing capital:
- Supply Chain and Advanced Manufacturing, including critical minerals, pharmaceutical precursors and robotics
- Defense and Aerospace, including defense technology, autonomous systems, drones, next-gen connectivity and secure communications
- Energy Independence and Resilience, including battery storage, grid resilience and distributed energy
- Frontier and Strategic Technologies, including AI, cybersecurity and quantum computing
..."
JPMorganChase Launches $1.5 Trillion Security and Resiliency Initiative to Boost Critical Industries (original news release) "The firm will make direct equity investments of up to $10 billion as part of the $1.5 trillion initiative to address pressing needs in key sectors from critical minerals to frontier technologies"
Jamie Dimon
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