Author: Leon Hinde

JPMorgan Chase is launching a decade-long plan to help finance and take direct stakes in companies it considers crucial to U.S. interests.

The bank said in a statement it would invest up to $10 billion into companies in four areas: defense and aerospace, “frontier” technologies including AI and quantum computing, energy technology including batteries, and supply chain and advanced manufacturing.

That is part of its broader effort, dubbed the Security and Resiliency Initiative, in which JPMorgan said it will finance or facilitate $1.5 trillion in funding for companies it identifies as crucial, an amount is said was 50% more than a previous plan.