JPMorgan plans to increase its technology budget by nearly $2 billion this year, lifting total tech spending to $19.8 billion — approximately a 10% increase compared to 2025.
Speaking at the firm’s 2026 company update, CFO Jeremy Barnum said that technology continues to be a primary driver of overall expense growth, with total expenses rising by around $9 billion year over year.
He noted that a significant portion of the technology budget — about $1.2 billion — is directed toward strategic investments, including a range of artificial intelligence initiatives.
Later in the presentation, CEO Jamie Dimon addressed the bank’s AI efforts, explaining that while the company is investing heavily in the space, the financial returns from AI are difficult to measure on a project-by-project basis, making it challenging to attribute precise value to individual initiatives.