JPMorgan's First Republic takeover leads to $3 billion revenue boost.

JPMorgan Chase raised its forecast for net interest income by $3bn due to its acquisition of First Republic, which added 200 advisers and $200bn in client assets to JPMorgan’s wealth management operations. The bank now expects net interest income to be $84bn in 2023. JPMorgan also plans to invest an additional $1bn into artificial intelligence investments by the end of the year and expects to add more brick-and-mortar bank buildings across the US. The bank anticipates that it will be able to cover 70% of the US population within a 10-minute drive of its branches, up from 60% today.