JPMorgan Invests $5 Billion in Defense Startups

JPMorgan Chase invested $5 billion in startups during the first year of its U.S. security initiative, a faster pace than the planned $10 billion over a decade. The bank backed Hadrian, which uses 10 robots per human employee, and Castelion, a maker of the Blackbeard hypersonic missile founded in late 2022 by former SpaceX engineers.