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00:02JPMorgan Chase has invested more than $5 billion in startups
00:06during the first year of its U.S. Security and Resiliency Initiative,
00:09reaching half its original 10-year investment target, according to CNBC.
00:14The bank initially pledged $10 billion over a decade,
00:18but may expand that commitment as opportunities grow.
00:21The investments focus on defense, manufacturing, supply chains,
00:26advanced technologies, and healthcare.
00:29JPMorgan has taken stakes in defense startups Hadrian and Castellion,
00:33which develop automated factories and hypersonic missiles, respectively.
00:37The bank has also financed and facilitated more than $230 billion for industries
00:42supporting U.S. national interests.
00:45That effort aims to reach $1.5 trillion over 10 years.
00:49JPMorgan has expanded the initiative to Europe and Canada.
00:52For all things money, visit Benzinga.com.
