Apple Commits Additional $100Billion to Boost US Manufacturing Sector

Apple has committed to investing an additional $100 billion into the U.S. economy over the next four years. This brings Apple’s total pledged U.S. investment under Trump’s presidency to $600 billion, following Apple’s $500 billion pledge in February.

Speaking alongside Apple CEO Tim Cook at the White House, Trump praised the iPhone maker for “coming home” after years of being seen as more invested in foreign manufacturing.

“This is the largest investment Apple has ever made in America and anywhere else,” Trump said. “Apple has been an investor in other countries a little bit, I won’t say which ones, but a couple, and they’re coming home.”

“President Trump shared some kind words about that work, but he also asked us to think about what more we could commit to doing.

“Mr. President, we took that challenge very seriously.” Apple CEO Cook said.

Subject of Latest Investment

Apple’s expanded investment includes a wide array of U.S.-based suppliers and facilities, with a stated goal of creating a fully domestic chip and component supply chain. At the center of this is Apple’s so-called American Manufacturing Program, which now counts more than a dozen strategic partners, including Corning, Coherent, GlobalWafers, Applied Materials, Texas Instruments, Samsung, GlobalFoundries, Amkor, and Broadcom.

Apple said it would spend $2.5 billion to expand its partnership with Corning, which manufactures glass for iPhones and Apple Watches at its Kentucky facility. The company also announced a multi-year deal with Coherent to produce lasers used in the iPhone’s facial recognition system. Apple said the partnership would bolster its U.S. sensor supply chain, which is becoming increasingly vital to its smartphone and wearables business.

Meanwhile, Apple revealed that it expects its U.S.-based supply chain to manufacture more than 19 billion chips this year alone, including chips produced by TSMC at its Arizona plant, as well as U.S.-made wafers from GlobalWafers, and semiconductor components from Texas Instruments, which will be installing new tools at facilities in both Utah and Texas.

Apple also named GlobalFoundries as the manufacturer for its wireless charging modules as well as the expansion of  its data center footprint across North Carolina, Iowa, Nevada, and Oregon. The company originally announced $10 billion in planned data center investments in those states, a number that has since been exceeded.

The company also reiterated its earlier pledge to invest $500 million in a rare earths mining venture, part of a strategy to ensure that vital raw materials used in batteries and device motors can be sourced locally, reducing reliance on China and other foreign suppliers.

 

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