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Stock impact report

JPMorgan is building a fintech campus in Silicon Valley [CNN]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: CNN
JUST WATCHED This glove lets you 'feel' objects that aren't there MUST WATCH (18 Videos) New York (CNN Business) JPMorgan Chase is building a campus in Silicon Valley as it redoubles its focus on tech — and looks to compete more aggressively for top talent. The bank said Friday that it will open a new fintech campus in Palo Alto in 2020. It will house more than 1,000 employees, consolidating the company's existing presence in the Bay Area. The move signals JPMorgan's growing focus on digital payments. In 2017, the bank bought WePay, a payments company that competes with PayPal. Its 275 employees will move to the Palo Alto campus from Redwood City. And it indicates a commitment to technology more broadly. Roughly 50,000 people at JPMorgan ( JPM ) work in tech. This year's budget for the division is $10.8 billion, with $5 billion set aside for new investments. That's up from $9.5 billion in 2017. Show less Read more
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