JPMorgan to boost 2026 tech budget by $2B to nearly $20B
Jamie Dimon said JPMorgan plans nearly $20B in tech spending for 2026 after adding $2B to its budget and expects Q1 markets revenue to rise by mid-teens percent. The bank reiterated guidance for $105B in adjusted expenses and expects retail deposit growth to resume in 2026.
1. Tech Spending Increase
JPMorgan’s CFO Jeremy Barnum said the bank will increase its technology spending by $2 billion in 2026, bringing the total tech budget to $19.8 billion to support AI, cloud infrastructure and digital customer service initiatives.
2. Markets Revenue and Expense Guidance
Co-head Troy Rohrbaugh projected that markets revenue could rise by a mid-teens percentage in the first quarter versus a year earlier, and the firm reaffirmed its guidance for $105 billion in adjusted operating expenses for the year.
3. Deposit Growth Outlook
JPMorgan expects retail deposit growth to resume in 2026 as customer acquisition rebounds and yield-seeking behaviors normalize following a slowdown in 2025.
4. Stablecoin Competitive Threat
CEO Jamie Dimon warned that the growing popularity of stablecoins could erode traditional banking roles, emphasizing the need for JPMorgan to leverage its advanced systems and risk management capabilities to maintain its competitive edge.