JPMorgan Chase plans to invest up to $10 billion in equity and venture capital stakes in industries like artificial intelligence and defense to bolster national security. CEO Jamie Dimon emphasizes the need for increased investments in critical sectors due to reliance on foreign supply chains. Additionally, JPMorgan commits $1 trillion to aerospace, defense, and emerging technology over the next decade.

The Trump administration has been increasing efforts to secure critical industries in the US amid trade tensions with China. Government has taken equity stakes in companies like Intel, MP Materials, and Trilogy Metals. JPMorgan has already financed MP Materials and serves Intel. The Pentagon is also aiming to stockpile $1 billion in critical minerals.

JPMorgan will expand its team, leverage research from its divisions, and establish a geopolitics advisory service to support its investment plan. The bank will advocate for faster growth in key industries and form an advisory committee with public and private sector leaders to guide the strategy.

Read more at Yahoo Finance: JPMorgan pledges $10 billion to US companies ‘essential to national security’