Jamie Dimon spent years warning about America’s reliance on China. A year in, JPMorgan has put $230 billion behind fixing it

For the past year, JPMorgan Chase has allocated $230 billion to sectors it deems essential for economic and national security, as part of its 10-year, $1.5 trillion Security and Resiliency Initiative. CEO Jamie Dimon has been vocal about America's overreliance on China, warning about the nation's vulnerabilities in defense procurement and critical minerals.

JPMorgan has directly invested in critical minerals, defense, and frontier technology, and has committed $5 billion of its own capital to defense-related startups. The bank's primary focus is on critical minerals, as these materials are predominantly controlled by China. JPMorgan has taken a stake in an Idaho mine with the U.S.'s only identified antimony reserve, helped arrange financing for a $7.4 billion Korea Zinc processing plant, and appointed a critical minerals chief.

The Pentagon plans to spend $5 billion over the next two fiscal years to bolster critical minerals supply chains, with JPMorgan playing a significant role in financing these projects. The bank's investments extend beyond American mines to Latin America, where Washington is seeking alternative sources of critical minerals to reduce dependence on China.