April 17, 2025
Mr. Jamie Dimon
Chairman and Chief Executive Officer
JPMorgan Chase & Co.
383 Madison Avenue
New York, NY 10179

Dear Mr. Dimon,

We are writing to express significant concerns regarding JPMorgan Chase & Co. (JPMorgan)’s involvement in the upcoming Hong Kong initial public offering (IPO) of Contemporary Amperex Technology Co., Limited (CATL)—a Chinese military company as designated by the U.S. Department of Defense under Section 1260H of the National Defense Authorization Act (NDAA).

Read the full report here.

EXECUTIVE SUMMARY

 “Some in the industry have claimed that the U.S. holds an 18-month AI lead, but that obfuscates reality—it’s closer to three months.” – U.S. AI Executive 

Timothy L. Killeen

President 

University of Illinois Urbana-Champaign 

506 South Wright Street 

Urbana, IL 61801 

Dear Mr. Killeen,

Dr. Carol Folt 

President 

University of Southern California 

USC Office of the President 

Los Angeles, CA 90089 

Dear Dr. Folt

Dr. Mung Chiang

President

Purdue University 

610 Purdue Mall 

West Lafayette, IN 47907 

Dear Dr. Chiang,

Dr. Darryll J. Pines

President

University of Maryland

 1101 Main Administration Building

College Park, MD 20740

Dear Dr. Pines,

Dr. Jonathan Levin

President 

Stanford University

450 Jane Stanford Way

Stanford, CA 94305

Dear Dr. Levin,

Farnam Jahanian

President Carnegie Mellon University

610 Warner Hall

Pittsburgh, PA 15213

Dear Mr. Jahanian,