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JPMorgan Chase (JPM) announced a sweeping $1.5 trillion, decade-long initiative to finance and invest in industries central to U.S. economic and national security, committing up to $10 billion of its own capital to select American companies, according to reporting by Reuters on Monday.

The bank is the latest to "fall in line" behind President Trump's continued focus on national security while safeguarding trade and production domestically. 

The plan will channel funds into four core areas — supply chain and manufacturing, defense and aerospace, energy independence, and frontier technologies such as artificial intelligence and quantum computing. JPMorgan will expand research through its Center for Geopolitics, hire additional bankers, and form an external advisory council to guide the effort.

“This is a JPMorgan initiative,” Chairman and CEO Jamie Dimon said, stressing that it is “100% commercial” and not driven by the Trump administration.

Sure Jamie. Wink, wink. 

It's probably just a coincidence then that the announcement follows rising trade tensions with China and renewed U.S. efforts to secure critical industries such as semiconductors, minerals, and clean energy.

“It has become painfully clear that the U.S. 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,” Dimon said. “Our security is predicated on the strength and resiliency of America’s economy. America needs more speed and investment.”

Reuters reported that Dimon called for policy changes to remove “excessive regulations, bureaucratic delay, partisan gridlock and an education system not aligned to the skills we need,” urging unity in facing the nation’s “immense challenges.” “We need to act now,” he said.

JPMorgan’s “security and resiliency initiative” will include direct equity and venture capital investments in companies building technologies for defense, AI-driven energy systems, semiconductors, and data centers. “Our support of clients in these industries remains unwavering,” Dimon added.

The announcement comes amid growing debate over artificial intelligence and its economic impact. Dimon told the BBC that while AI will “pay off,” much like the early car and television industries, “most people involved in them didn’t do well.”

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