JPMorgan will spend almost $20 billion on technology this year

JPMorgan plans to boost its technology budget by almost $2 billion this year, to $19.8 billion — a roughly 10% increase compared to 2025. Speaking at the firm's 2026 company update on Monday, CFO Jeremy Barnum said "technology remains a major driver of our expense growth," which is up around $9 billion for the year. The bulk of the tech expenses comes from $1.2 billion in investments, including some AI-related projects. Later in the presentation, CEO Jamie Dimon said that returns on AI are difficult to quan ...