The announcement came on the heels of CEO Tim Cook’s meeting with President Donald Trump|Mike Deerkoski|CC BY 2.0
Apple announced its “largest-ever spend commitment” yesterday when CEO Tim Cook announced the company will invest $500 billion in the US in the next four years.
As part of this new investment:
- Apple is doubling its US Advanced Manufacturing Fund, which was created in 2017, to $10 billion. It would help in the production of advanced silicon in TSMC’s Arizona facility. Mass production of Apple chips began last month.
- The company and its partners will open a new facility in Houston to produce servers that support Apple Intelligence.
- The move also aims to employ over 20,000 workers, aligning with President Donald Trump’s goal of boosting domestic manufacturing.
Apple says it directly supports almost 3 million jobs across America and has 24 factories in 12 states.
The announcement came a few days after Cook met with President Donald Trump.
However, experts estimate that up to 80% of such corporate pledges simply rebrand existing plans.
The iPhone maker made similar announcements in 2021, which included $430 billion over five years and 20,000 new jobs. One project involving a new campus in Research Triangle Park, North Carolina, was paused last year.
Apple’s top supplier, Foxconn, pledged a $10 billion Wisconsin factory in 2018 that shrank to $700 million and 1,450 jobs. It still hasn’t fully materialized.
Notably, Apple’s move could also be about economics and optics. Trump’s 10% tariffs on Chinese imports and a potential 25% semiconductor tariff could affect its margins.