+0.71% to $333.18 from $330.83
What moved JPM
- The partnership includes a $15 billion mandate for JPMorgan Asset Management to run customized global public-equity portfolios for QIA.
- A separate $5 billion private-markets initiative will provide senior financing to U.S. middle-market companies in industrials, services, healthcare and technology.
- JPMorgan Asset Management managed about $4.6 trillion as of June 30, while QIA is estimated to oversee roughly $580 billion.
- HSBC separately raised its JPMorgan price target to $377 from $369 while keeping a Hold rating.
Sources: Yahoo Finance · Ad Hoc News
-1.89% to $336.59 from $343.06
What moved JPM
- JPMorgan Chase joined an Nvidia-led effort to develop shared, open-source safety tools for AI agents.
- The collaboration puts the bank at the table as companies work out how to give AI agents more operational freedom without losing control.
- The announcement came the same day JPMorgan’s trading desk separately turned bullish on U.S. equities ahead of Friday’s jobs report.
Sources: GuruFocus · Bloomberg
-3.42% to $340.00 from $352.04
What moved JPM
- Qatar Investment Authority and J.P. Morgan Asset Management signed a memorandum of understanding to establish a $20 billion strategic partnership spanning public and private markets.
- The partnership includes a $15 billion public equities mandate, under which J.P. Morgan Asset Management will manage customized global equity portfolios for QIA, plus a $5 billion private-markets initiative focused on established U.S. middle-market companies.
- J.P. Morgan Asset Management manages $4.6 trillion in assets, while QIA oversees nearly $580 billion.
- Separately, JPMorgan CEO Jamie Dimon said AI-related investment spending could climb to roughly $700 billion this year from about $300 billion last year, adding that the surge could also intensify inflationary pressure.
- JPMorgan shares fell alongside other large banks as a 10-year Treasury yield near 5% and a near-flat yield curve pressured expectations for bank net interest margins.
Sources: PR Newswire · GuruFocus · Yahoo Finance
-0.32% to $353.56 from $354.71
What moved JPM
- JPMorgan Chase is on pace to become the first bank to top $1 trillion in market value, with its market capitalization near $970 billion this week.
- BofA Securities reiterated a Buy rating on JPMorgan, arguing that even at a $1 trillion valuation the stock would still trade at a discount to other trillion-dollar S&P 500 companies on a price-to-earnings basis.
- The milestone follows JPMorgan’s second-quarter net income of $21.2 billion, the highest quarterly profit ever reported by a U.S. bank.
Sources: Simply Wall St · ad-hoc-news.de · Bloomberg
-0.64% to $354.22 from $356.50
What moved JPM
- JPMorgan is talking with lenders about a $5 billion debt package to fund data-center construction by Volta Infra Holdings.
- Volta, founded only a few months ago, raised $300 million in venture capital funding earlier this month at a $2.4 billion valuation as it looks to build AI infrastructure for firms seeking Nvidia chip capacity.
- Volta has already struck a deal with Anthropic to provide $10 billion in compute capacity.
Sources: Bloomberg
+0.08% to $356.69 from $356.39
What moved JPM
- JPMorgan is easing its approach to loans secured against shares held by employees and early investors in recently listed companies, relaxing its standard 135-day waiting period.
- Ahead of SpaceX’s IPO, the bank signaled it would be willing to lend against those shares earlier than its usual policy allows, and it earned $75 million from its role on the SpaceX listing.
- People inside the bank said it could take a similar approach if Anthropic goes public, though no final decision has been made.
Sources: Financial Times
-1.60% to $351.55 from $357.26
What moved JPM
- India’s Securities and Exchange Board barred Mauritius-based JPMorgan unit Copthall Mauritius Investment Ltd. from the capital market over alleged manipulative trading tied to the country’s new auction-based share-pricing system.
- The regulator impounded about 37 million rupees ($386,000) in what it described as wrongful gains made by the JPMorgan unit and local firm Mansi Share and Stock Broking Ltd.
- JPMorgan shares slipped about 1% Thursday, largely tracking a broader bank selloff as Treasury yields rebounded rather than reacting specifically to the India news.
Sources: Bloomberg · Yahoo Finance
-0.52% to $360.96 from $362.84
What moved JPM
- Wells Fargo raised its price target on JPMorgan Chase to $390 from $375 and reiterated an Overweight rating, with analyst Mike Mayo saying the bank is close to becoming the first ever to reach a $1 trillion market capitalization.
- Mayo projected that after reaching $1 trillion, JPMorgan could push toward a $2 trillion valuation within seven to eight years.
- The anticipated milestone follows a record second-quarter net profit of $21.1 billion, up 41% year-over-year, with equities trading revenue up 86% to $6 billion.
Sources: CNBC · Fortune