JPMorgan Chase & Co (NYSE:JPM) stock is one of the most undervalued blockchain stocks to buy now.
On May 4, Reuters reported that Meta Platforms is working with Morgan Stanley and JPMorgan Chase & Co (NYSE:JPM) on a financing package worth about $13 billion for a new data center in El Paso, Texas
Bloomberg, which first broke the story, noted that most of the funding will be structured as debt, with the remainder in equity. Supannee Hickman / Big Tech companies are investing heavily in data centers to meet surging demand for artificial intelligence. Meta alone boosted its planned investment in the El Paso AI facility to $10 billion in March, aiming for one gigawatt of capacity by 2028.
Industry leaders including Amazon, Alphabet, and Microsoft are projected to spend more than $630 billion on AI infrastructure this year, underscoring the scale of the race. Meanwhile, JPMorgan CEO Jamie Dimon highlighted blockchain and tokenization as major competitive forces in his April 6 shareholder letter. He warned that stablecoins, smart contracts, and tokenized assets could reshape banking functions such as payments, trading, and asset management.