One year after launching its $1.5 trillion Security and Resiliency Initiative (SRI), JPMorganChase today announced it has deployed $5 billion in equity investments through its Strategic Investment Group and financed and facilitated more than $230 billion to help strengthen the industries, supply chains and technologies that underpin long-term national security and economic resilience.

As geopolitical dynamics intensify, energy demand rises and supply chain vulnerabilities continue to challenge economies around the world, governments and businesses are increasingly focused on ensuring they have the industrial capacity, energy resources, critical technologies and workforce needed to support long-term economic growth and national security. Through SRI, JPMorganChase brings together financing, investment, research, policy expertise and convening power to help address those challenges and strengthen the foundations of economic resilience.

“Strong economies and national security don’t happen by accident. They require investment in critical infrastructure, manufacturing, energy, defense and innovation, as well as policies that encourage growth,” said Jamie Dimon, Chairman and CEO of JPMorganChase. “Through SRI, we’re bringing together capital, expertise and convening power to help strengthen the industries, supply chains and workforce that support economic prosperity and national security.”

Investing Directly in Strategic Companies

The Strategic Investment Group, led by Todd Combs, invests JPMorganChase’s capital in companies with long-term strategic importance, including leading the direct equity investments under the Security and Resiliency Initiative. In its first year, the group committed $5 billion of the initial $10 billion SRI equity allocation. It invests in venture, growth and later-stage companies to help them grow, innovate and expand manufacturing capacity. Recent investments support next-generation defense technologies, distributed battery storage, automated manufacturing and frontier technologies.

“Our approach is to find generational companies and partner with them for the long term. The Security and Resiliency Initiative is an important part of that work. Putting $5 billion to work in our first year shows how many exceptional businesses are building in industries that strengthen critical supply chains and the solutions our economy and security depend on,” said Todd Combs, Head of the Strategic Investment Group, JPMorganChase.

Financing Critical Industries

Over the past year, JPMorganChase has financed and facilitated more than $230 billion in transactions across SRI’s five focus areas: supply chain and advanced manufacturing; defense and aerospace; energy independence and resilience; frontier and strategic technologies; and pharma and healthtech. This work has supported defense technology companies and manufacturers as they scale; financed Tier 2, 3 and 4 suppliers critical to the defense industrial base; facilitated investment in next-generation nuclear and geothermal energy; expanded domestic critical minerals and metals capacity; advanced artificial intelligence, cybersecurity and quantum computing; and strengthened critical medicine production and supply chains.

“We are proud of what we have accomplished in SRI’s first year, but this is only the beginning,” said Jay Horine, Head of the Security and Resiliency Initiative, JPMorganChase Global Banking. “Over the past year, we have deployed capital, developed insights across critical industries and demonstrated how financing, policy engagement and collaboration can reinforce one another. Our focus now is turning that momentum into even greater execution, helping expand industrial capacity, strengthen supply chains and support the industries that will shape long-term economic resilience and national security.”

The firm has built a dedicated team of more than 35 SRI professionals, including 13 Managing Directors, supported by hundreds of bankers and colleagues across the firm. SRI has also expanded to Europe and Canada this year, recognizing that many technologies, supply chains and industrial capabilities critical to resilience cross national borders. As a result, collaboration among trading partners is essential. Building on its U.S. momentum, the firm expanded the initiative into markets that play a critical role in reinforcing advanced manufacturing, defense technologies, energy systems and strategic supply chains. Nearly one-third of SRI-related activity in the past year has occurred outside the United States.

Turning Insights into Action

Beyond deploying capital, SRI uses value-chain analysis, industry engagement and research to identify supply-chain dependencies, workforce shortages and financing gaps. Drawing on the Center for Geopolitics, the Industry and Policy Thematics research team and other firmwide expertise, SRI brings together market intelligence, industry expertise and policy analysis to help direct financing, investment and public-private collaboration toward the areas where they can have the greatest impact. Since last October, JPMorganChase has mapped seven critical value chains and identified opportunities for capital, partnership and focused action to strengthen industrial capacity and reduce strategic vulnerabilities.

SRI’s value-chain analysis and industry engagement have identified workforce, permitting and procurement challenges that continue to constrain investment, innovation and industrial capacity. These findings have informed SRI’s policy analysis, which focuses on practical reforms across five areas that could help strengthen long-term economic resilience and national security:

  • Defense Procurement – improving predictability in contracting and acquisitions to unlock investment

  • Smart Industrial Policy – a more durable approach to strengthening strategic industries

  • Workforce – addressing critical talent shortages constraining production and innovation

  • Energy and Grid Modernization – expanding affordable, reliable power and modernizing the grid

  • Permitting – streamlining a predictable regulatory pathway for faster project delivery

Over the past year, the firm has convened stakeholders and published analysis to engage in policies that strengthen U.S. industrial capacity and resilience.

“Effective policy creates the conditions for investment, growth and opportunity,” said Tim Berry, Global Head of Corporate Responsibility and Chairman of the Mid-Atlantic Region for JPMorganChase. “By removing barriers, connecting workers to good careers and giving businesses the confidence to act, we can strengthen supply chains and build a more resilient economy.”

Convening Leaders to Drive Action

JPMorganChase is also using the breadth of its global franchise and network across business, capital markets and the public sector to convene leaders who can accelerate solutions for critical industries. The gatherings are designed to identify barriers and accelerate action on challenges no institution can solve alone.

  • In April, the inaugural Defense Action Forum convened 120 leaders from business, government, trade groups and other experts to discuss how the U.S. can strengthen and expand its defense industrial base.

  • In January and June, respectively, the firm hosted resiliency summits in Wyoming and Michigan with state leaders to discuss the advancement of critical industries and strengthen regional economies.

  • In July, JPMorganChase announced $24 million in funding to support Philadelphia’s shipbuilding and maritime manufacturing ecosystem through workforce training, supply-chain development and small business growth.

  • Last month, the state of Michigan, Ford and JPMorganChase announced a public-private initiative designed to strengthen manufacturers’ competitiveness and supply-chain resilience while accelerating the growth of innovative suppliers expanding production in Michigan.

These efforts reflect SRI’s approach of pairing capital with policy analysis, workforce development, supplier readiness and public-private initiatives to turn shared priorities into action.

Looking Ahead

As SRI enters its second year, JPMorganChase will focus on converting value-chain insights into action by supporting companies that can expand critical capacity, developing structures that make strategic projects financeable, strengthening supplier and workforce ecosystems and expanding cross-border policy coordination. Success will be measured not only by capital mobilization, but also by stronger industrial capacity, more reliable supply chains and a deeper pipeline of companies able to scale when demand rises or disruption occurs.

Statements of Support

SRI’s External Advisory Council brings together public- and private-sector leaders, including former U.S. Secretaries of Defense and State, retired senior military leaders and the heads of leading global companies, helping to inform SRI’s strategy and priorities.

“America’s economic strength and national security are increasingly intertwined. Maintaining our leadership will require investing in the industrial capabilities, critical technologies and supply chains that underpin long-term resilience at home, while working closely with the trading partners that have long been a foundation of American strength. JPMorganChase’s Security and Resiliency Initiative is helping advance that important work,” said Condoleezza Rice, former U.S. Secretary of State.

“Manufacturing has long been a source of America’s economic strength and a testament to our innovation, creativity and engineering capabilities. Maintaining that leadership will require continued investment in advanced production, critical supply chains and the skilled workforce needed to ensure the U.S. remains at the forefront of global manufacturing,” said Jim Farley, President and CEO of Ford Motor Company.

“America’s defense industrial base must be able to deliver sophisticated capabilities at the speed and scale today’s security environment demands. The Security and Resiliency Initiative is working to help strengthen the supplier base, expand production capacity, and accelerate the advanced technologies that will be essential to ensuring the U.S. and its trading partners are prepared to meet evolving threats,” said Phebe Novakovic, Chairman and CEO of General Dynamics.

“Recent volatility has demonstrated how quickly disruptions to critical supply chains can affect our economy and our ability to meet essential needs. Strengthening domestic production and supply chains for critical medicines, technologies and industrial inputs will help ensure the U.S. and our trading partners have the resources they need when they matter most,” said Alex Gorsky, former Chairman and CEO of Johnson & Johnson.

“Private capital has an important role to play in strengthening America’s economic security, but many of our most important challenges will require the combined effort of public and private institutions. JPMorganChase’s Security and Resiliency Initiative demonstrates how capital, industry and government can work together to help expand capacity and strengthen America’s long-term competitiveness,” said Paul Ryan, Partner at Solamere Capital and former Speaker of the U.S. House of Representatives.

“Security today extends well beyond traditional defense. Energy, technology, infrastructure and resilient supply chains all underpin our collective security, and strengthening them will require deeper cooperation among governments, industry and capital across the U.S., U.K. and our global trading partners,” said Admiral Sir Tony Radakin, former Chief of the U.K. Defence Staff.

About JPMorganChase

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $5.1 trillion in assets and $372 billion in stockholders’ equity as of September 30, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

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