JPMorgan Chase plans to invest up to $10 billion in U.S. companies vital to national security and economic resilience, part of a 10-year $1.5 trillion initiative. The move aims to support key sectors like defense, energy, and advanced manufacturing. Shares of the bank rose 1.1% following the announcement.

As the U.S. aims to modernize infrastructure and reduce reliance on foreign supply chains, JPMorgan’s initiative targets critical minerals, products, and manufacturing essential for national security. The plan includes financing and investment in supply chain, defense, energy independence, and frontier technologies like artificial intelligence and quantum computing.

JPMorgan’s new “security and resiliency initiative” will focus on four sectors, including supply chain and manufacturing, defense, energy independence, and frontier technologies. The firm plans to facilitate and finance about $1 trillion over the next decade, increasing the size by 50% to support clients in these sectors.

The bank is working with the U.S. government across up to 30 industries to pursue deals critical to national or economic security. Recent collaboration includes a deal with U.S. rare earths mining company MP Materials. JPMorgan plans to explore more opportunities with the government and has been in discussions with clients about the implications of such transactions.

JPMorgan aims to establish an external advisory council, hire more bankers and investment professionals, and expand thematic research on supply chain vulnerabilities and emerging technologies. The bank will focus on 27 sub-sectors within the four key investment areas, covering industries from shipbuilding to secure communications.

Read more at Yahoo Finance: JPMorgan to invest up to $10 billion in US companies critical to national security