JPMorgan invests $5B in companies critical to US national security
Jamie Dimon says strong economies require investment in critical infrastructure, manufacturing, energy and innovation
Jackie DeAngelis highlights JPMorgan Chase CEO Jamie Dimon warning about economic risks, including inflation and deficits, despite strong earnings.
JPMorgan Chase announced on Monday that it has invested $5 billion in companies that underpin U.S. national security through the firm's Security and Resiliency Initiative (SRI).
The bank launched the $1.5 trillion SRI last year under its Strategic Investment Group and said that it has financed and facilitated over $230 billion to boost industries, supply chains and technologies that play a critical role in long-term national security and economic resilience.
"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," said JPMorgan Chase CEO Jamie Dimon.
"Through SRI, we're bringing together capital, expertise and convening power to help strengthen the industries, supply chains and workforce that support economic prosperity and national security," Dimon added.
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JPMorgan Chase CEO Jamie Dimon said the SRI is helping invest in industries, supply chains and workforce areas that boost economic prosperity and national security. (Saul Loeb/Getty Images)
JPMorgan's Strategic Investment Group invests the firm's capital in companies with long-term strategic importance, including in the form of direct equity investments in the SRI.
The group committed $5 billion of the initial $10 billion SRI equity allocation in its first year, with funds invested in venture, growth and later-stage companies to spur growth, innovation and expansions of manufacturing capacity.
The firm's announcement noted that recent investments have supported next-generation defense technologies, distributed battery storage, automated manufacturing and frontier technologies.
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JPMorgan Chase's SRI is investing in industries that are critical to national security. (Jonathon Gruenke/The Virginian-Pilot/Tribune News Service via Getty Images)
"Our approach is to find generational companies and partner with them for the long term," said Todd Combs, head of the Strategic Investment Group at JPMorgan Chase.
"The Security and Resiliency Initiative is an important part of that work. Putting $5 billion to work in our first year shows how many exceptional businesses are building in industries that strengthen critical supply chains and the solutions our economy and security depend on," Combs added.
The SRI has also facilitated over $230 billion in transactions in its five focus areas over the past year.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 335.26 | +1.73 | +0.52% |
Those transactions have supported defense technology companies and manufacturers as they scale; financed suppliers critical to the defense industrial base; facilitated investment in next-generation nuclear and geothermal energy; expanded domestic critical minerals and metals capacity; advanced AI, cybersecurity and quantum computing; and strengthened critical medicine production and supply chains.
JPMorgan Chase said that with the SRI entering its second year, the firm will look to convert value-chain insights into action by supporting companies that can expand critical capacity, developing structures that make strategic projects financeable, bolstering supplier and workforce ecosystems, and expanding cross-border policy coordination.