US$1.5trln initiative to boost critical industries
JPMorganChase launches its security and resiliency initiative.
There will be direct investments of up to US$10bln as part of the $1.5tln total.
This is to help select companies, primarily in the US, to enhance their growth, spur innovation and accelerate strategic manufacturing.
The firm’s effort comes at a time when the US is looking to modernise infrastructure, fortify supply chains, and implement policies that promote growth.
JPMorganChase will focus on the following four key areas:
- Supply chain and advanced manufacturing, including critical minerals, pharmaceutical precursors and robotics
- Defence and aerospace, including defence 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
More specifically, the firm has currently divided these four key areas into 27 sub-areas, ranging from shipbuilding and nuclear energy to nanomaterials and critical defence components.
‘It has become painfully clear that the US 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,’ says Jamie Dimon, Chairman and CEO of JPMorganChase.
