According to CoinMeta, Ford and JPMorgan Chase announced that they will each invest up to $1 billion to support suppliers in Michigan in order to promote the return of American manufacturing. Rare earth stocks, as related listed companies, have fallen by 29% over the past month. Ford, JPMorgan Chase, and Michigan launched the Michigan Launchpad for Industrial Innovation and Transformation on September 29th. This $1 billion in funding is a ten-year goal, with about $100 million per year. As of June 30th, JPMorgan Chase's assets amounted to $5 trillion, so the $1 billion loan only accounts for 0.02% of its assets. Ford's orders will be received over a ten-year period and will need to go through standard supplier qualification and approval processes. The announcement did not quantify the impact on the earnings of either company. Ford CEO Jim Farley mentioned that key minerals are the first supply challenge faced by the project, and other target areas of the project include robotics, semiconductors, and battery storage. MP Materials is the only large-scale rare earth mine in the United States; however, its stock price closed at $46.14 on October 9th, which is less than half of its peak in October 2025.