JPMorgan Chase launches $230B initiative aiming $1.5T for US resilience
JPMorgan Chase is putting $230 billion into its new Security and Resiliency Initiative, aiming to invest $1.5 trillion over the next decade in industries that keep the US economy strong.
Big moves include funding Korea Zinc Co.'s $7.4 billion smelter in Tennessee and supporting clean energy company Fervo Energy's IPO.
The goal? Make sure the US isn't too dependent on other countries for key resources.
JPMorgan ramps up security investments 50%
Led by CEO Jamie Dimon, the plan ramps up investment by 50% compared to previous efforts, with projects reaching into Canada and Europe too.
JPMorgan is also adding up to $10 billion of its own money into industries crucial to national security: areas they say are crucial for national security.
Co-President Doug Petno summed it up as "The biggest lesson is that the opportunity is far greater, and the challenges are more complex than we initially thought," showing just how high the stakes are for keeping things resilient at home.