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JPMorgan Chase spent $2 billion on brand new data centers last year

JPMorgan Chase & Co. spent $2 billion on new data centers last year, even as the multinational investment banking and financial services company continued to move data and applications to cloud platforms run by AWS, Google, and Microsoft.

The $2 billion is part of the firm’s total annual spending on technology, which amounted to more than $12 billion last year, according to details shared in JPMorgan Chase’s fourth-quarter and full-year 2021 earnings presentation. Looking at the current year, the firm expects to increase its tech spending to roughly $15 billion. IT priorities in 2022 will be consistent with prior years and will include increases in cloud capabilities, data centers, digital consumer experience, and data and analytics.

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Source:: Network World – Data Center