JPMorgan Chase made a quiet announcement this month that deserves more attention than it has received. The bank formally reclassified its AI investments not as experimental R&D, not as digital transformation initiatives, but as core infrastructure. The 2026 technology budget stands at approximately $19.8 billion, with 2,000 staff dedicated specifically to AI development. Core infrastructure. Not innovation. Not exploration. Infrastructure. The word choice is deliberate. And it signals something important about where the conversation is moving at the organizations making the largest and most consequential AI bets. What "core infrastructure" actually means When a company classifies something as core infrastructure, it is making several simultaneous statements about it. It is saying that this is not optional that the business cannot operate at the standard required without it.…