Jamie Dimon launched the plan in October to support US self-sufficiency in critical technologies such as rare earths and artificial intelligence|Steve Jurvetson|CC BY 2.0
JPMorgan Chase CEO Jamie Dimon is pushing a major effort to strengthen America’s security and reduce dependence on foreign adversaries.
He is assembling top business leaders, former officials, and generals, including Jeff Bezos, Condoleezza Rice, and Paul Ryan, to guide a sweeping $1.5 trillion national-security initiative.
Dimon launched the plan in October to support US self-sufficiency in critical technologies such as rare earths and artificial intelligence.
On Monday, he hired Todd Combs, one of Warren Buffett’s top investors, to run a $10 billion fund that will use JPMorgan’s own money to back companies building resilient supply chains.
The bank’s first investment was $75 million for a 3% stake in Perpetua Resources, which is developing America’s only domestic antimony reserve, a mineral essential for military equipment and mostly mined in China.
Dimon, increasingly vocal on global threats since Russia’s 2022 invasion of Ukraine, says the US must urgently prepare for a more dangerous world.