JPMorgan Chase & Co. has announced a sweeping new initiative to channel $1.5 trillion into industries that bolster US economic security and resiliency over the next decade, according to a report by Bloomberg .

The plan will funnel billions into strategic sectors such as rare earth minerals, pharmaceuticals, robotics, defense, aerospace, and energy technologies, including drones, battery storage, and grid infrastructure.

The bank estimated that the effort will add up to $500 billion more than it would have provided under its regular financing operations. As part of the initiative, JPMorgan also plans to hire additional bankers and professionals to manage the expanded focus.

“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sour

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