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By MICHELLE CHAPMAN

JPMorgan Chase will directly invest up to $10 billion in U.S. companies with crucial ties to national security.

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The investment plan revealed Monday will focus on four areas: supply chain and advanced manufacturing in critical minerals, pharmaceutical precursors and robotics; defense and aerospace; energy independence, with investments in battery storage and grid resilience; and strategic technologies, including artificial intelligence, cybersecurity and quantum computing.

The investment is part of the bank’s Security and Resiliency Initiative, a $1.5 trillion, 10-year plan to facilitate, finance and invest in industries critical to national security. read more

SAN FRANCISCO (AP) — OpenAI said Monday it is working with chipmaker Broadcom to design its own artificial intelligence computer chips.

The two California companies didn’t disclose the financial terms of the deal but said they will start deploying the new racks of customized “AI accelerators” late next year.

It’s the latest big deal between OpenAI, maker of ChatGPT, and the companies building the chips and data centers required to power AI.

OpenAI in recent weeks has announced partnerships with chipmakers Nvidia and AMD that will supply the AI startup with specialized chips for running its AI systems. OpenAI has also made big deals with Oracle, CoreWeave and other companies developing the data centers where those chips are housed.

Many of the deals rely on circular financing, in which the companies are both investing in OpenAI and supplying the world’s most valuable startup with technology, fueling concerns about an AI bubble. OpenAI doesn’t yet turn a profit but says its flagship chatbot now has more than 800 million weekly users. read more

By JOSH JACQUOT

More car buyers are finding themselves in a tough spot financially. According to a recent report from Edmunds, more than 26% of new-vehicle trade-ins in the second quarter of 2025 had negative equity — the highest share in more than four years.

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• 
  While Florida Starship missions wait, SpaceX launches latest Texas test flight

• 
  JPMorgan to invest up to $10 billion in US companies with crucial ties to national security

• 
  OpenAI partners with Broadcom to design its own AI chips

• 
  Wall Street veers upward after Trump softens his criticism of China

• 
  Uncertainty over the economy and tariffs forces many retailers to be cautious on holiday hiring

Negative equity refers to a situation in which you owe more on your vehicle than it’s worth, leaving you “upside down” or “underwater” on your loan. Negative equity is an acute problem when you trade that vehicle for another new one because you’ll have to pay off what you owe while simultaneously taking on the new loan payments. The average amount owed on these upside-down loans was $6,754, underscoring the mounting risks of car debt in today’s market. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — And back up goes Wall Street. U.S. stocks rallied Monday after President Donald Trump said ” it will all be fine,” just days after he sent the market reeling by threatening much higher tariffs on China.

The S&P 500 jumped 1.6% in its best day since May and recovered just over half its drop from Friday. The Dow Jones Industrial Average climbed 587 points, or 1.3%, and the Nasdaq composite leaped 2.2%.

“Don’t worry about China,” Trump said on his social media platform Sunday. He also said that China’s leader, Xi Jinping, “doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”

It was a sharp turnaround from the anger Trump displayed on Friday, when the S&P 500 tumbled to its worst drop since April after he accused China of “a moral disgrace in dealing with other Nations.”

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By ANNE D’INNOCENZIO, AP Retail Writer

NEW YORK (AP) — Uncertainty over the economy and tariffs is forcing retailers to pull back or delay plans to hire seasonal workers who pack orders at distribution centers, serve shoppers at stores and build holiday displays during the most important selling season of the year.

American Christmas LLC, which creates elaborate holiday installations for commercial properties such as New York’s Rockefeller Center and Radio City Music Hall, plans to hire 220 temporary workers and is ramping up recruitment nearly two months later than usual, CEO Dan Casterella said. Last year, it took on 300 people during its busy period.

The main reason? The company wants to offset its tariff bill, which Casterella expects to be as big as $1.5 million this year, more than double last year’s $600,000.

“The issue is if you overstaff and then you underperform, it’s too late,” Casterella said. ”I think everyone’s more mindful now than ever. ”

Holiday hiring could fall to 2009 levels

Online behemoth Amazon Inc. said Monday it intends to hire 250,000 full-, part-time and seasonal workers for the crucial shopping period, the same level as a year ago. read more