Rare-earth and lithium stocks rallied Monday after JPMorgan Chase & Co. announced a $1.5 trillion initiative to finance and invest in industries it believes are 「critical to national economic security and resiliency.」

Quantumscape up 17%; Albemarle, Lithium Americas, Enovix up over 8%.

The banking giant said it would hire more bankers and direct $10 billion from its own balance sheet to select and invest in companies, primarily in the U.S., to and accelerate manufacturing and spur innovation.

The bank is also creating an external advisory council of 「experienced leaders from the public and private sectors」 to guide the long-term strategy of the 10-year effort, which it’s calling the Security and Resiliency Initiative.

JPMorgan Chase's $(JPM)$ move essentially backs a commitment by the Trump administration to boost U.S. production of rare earths currently imported chiefly from China, as well as other industries that it had deemed vital to national security.

JPMorgan is already working with the Trump administration on financing plans for the government's investment in MP Materials Corp. (MP), a domestic producer of rare earths.

The bank's overall effort will include infrastructure, supply chains and policies that promote growth in industries that include quantum computing, artificial intelligence, defense, battery storage and robotics. In some cases JPMorgan will provide financing, and in others it may invest capital.

The bank said it would have backed $1 trillion in loans toward this effort in its normal course of business, but it's now adding another $500 billion in loan activity to unlock other opportunities to boost national security, according to a source familiar with the bank.

USA Rare Earth Inc.'s stock (USAR) soared 31.6% in morning trades, MP Materials Corp.'s stock (MP) rallied 20.4% and Lithium Americas Corp.'s stock (LAC) was up 14.7%. Lithium producer Albermarle Corp. $(ALB)$ moved up by7.7% and Ramaco Resources Inc. (METC) advanced by 10.7%.

Among quantum-computing companies, shares of IonQ Inc. $(IONQ)$ rose 8.7%, Rigetti Computing Inc. shares (RGTI) moved up by 12.1% and D-Wave Quantum Inc.'s stock (QBTS) rose 8.1%.

The Trump administration has recently moved to take stakes in MP Materials and Lithium Americas, as well as in Intel Corp. $(INTC)$. Intel shares were up 2.6%.

JPMorgan Chief Executive Jamie Dimon said the U.S. is "too reliant on unreliable sources of critical minerals, products and manufacturing" which are critical for national security.

The U.S. should also address "excessive regulations" that stand in the way of investment, as well as "partisan gridlock and an education system not aligned to the skills we need," Dimon said.

JPMorgan Chase owned about 3.2 million shares of MP Materials stock and a warrant to purchase 50,000 shares of USA Rare Earth's stock, as of June 30, according to filings.