Featured Articles

Analyst reveals Apple Watch spec

Analyst reveals Apple Watch spec

An analyst has examined the Apple Watch supply chain in an effort to ascertain the exact spec of Cupertino’s new gadget…

More...
Nvidia's first 20nm product is a mobile SoC

Nvidia's first 20nm product is a mobile SoC

For much of the year we were under the impression that the second generation Maxwell will end up as a 20nm…

More...
Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia adjusts GTX 980 and GTX 970 pricing

Nvidia adjusts GTX 980 and GTX 970 pricing

It appears that Nvidia has been feeling the pulse of the market and took some note from comments regarding the original…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 14 August 2012 11:38

JPMorgan Chase builds $500 million data centre

Written by Nick Farrell



IT industry scratches its head and says “how much?”


The enthusiastic backer of Enron and serial over charger of US mortgage payers, JPMorgan Chase has just splashed out on a new $500 million data centre.

CEO Jamie Dimon announced the move which practically everyone in the IT industry finds a bit strange.   While Chase is the US's largest bank, the new facilities are a little big by anyone's standard. It is about the same about of money that Google and Microsoft in their largest data centres for their cloud networks.

Dimon cited the figure as one of the advantages of being a big size. It can afford to invest cash in this way. Size lets Chase build a $500 million data centre that speeds up transactions and invest billions of dollars in products like ATMs and apps that allow your iPhone to deposit cheques, he enthused.

JPMorgan Chase operates two large data centres in Delaware and a 400,000 square foot facility. It also acquired data centres in its deals for distressed rivals Bear Stearns and Washington Mutual in the early days of the 2008 financial crisis.  So why it needs a huge new one is anyone's guess.

Still JPMorgan Chase is famous for its wise investments. It recently lost $5.8 billion due to the activities of a single trader known as the “London Whale.” Dimon said that it was a large number but it did not even dent the amount of cash  JPMorgan Chase made this year. So dropping $500 million on a new data base is small potatoes, although the money lost was enough to buy 11 more data centres which we are still not sure were needed.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments