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Apple is committed to $500 billion in the US economy with its historic initiative, and the company recorded “an extraordinary new chapter in the history of American innovation” on Monday.
Apple's 11-digit commitment will unfold over the next five years. This includes building an advanced AI server manufacturing plant near Houston and doubling the company's Advanced Manufacturing Fund from $5 billion to $10 billion.
Tech Giant is also planning to establish an Apple Manufacturing Academy in Detroit, and will hire 20,000 new employees focusing on research and development, silicon engineering, artificial intelligence and machine learning.
“This new pledge is based on Apple's long history of investing in American innovation and highly skilled manufacturing, focusing on artificial intelligence, silicon engineering and skill development for students and workers across the country. We support a wide range of initiatives,” the company said in a statement.
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In an Apple investment statement, Tim Cook said he was “bullying” about America's innovative potential. (ISTOCK/GETTY IMAGES)
Apple will also expand its teams and facilities in many states, including Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina and Washington. In a statement, Apple CEO Tim Cook said his company was “bullying about the future of American innovation.”
“We are proud to be able to build on years of US investment with this $500 billion commitment to our country's future,” his statement added. “We are excited to expand our support for American manufacturing, from doubling our advanced manufacturing funds to building advanced technology in Texas.”
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On Wednesday, May 15th, 2024, the Apple Inc. sign was at the company's 5th Avenue store in New York City. (Michael Nagle/Bloomberg/Getty Images)
“And we will continue to work with the people and businesses of this country to help us write an extraordinary new chapter in the history of American innovation.”
The announcement comes two days after President Donald Trump hinted at the tech giant's plans, saying the company plans to invest “hundreds of millions of dollars” in the United States.
Tim Cook, CEO of Apple Inc., spoke on Monday, June 6, 2022 at the Apple Worldwide Developers Conference at the Apple Park campus in Cupertino, California. (Getty Images/David Paul Morris via Getty Images/Bloomberg)
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“Yesterday, I had Tim Cook put in my office from Apple, and he's investing hundreds of millions of dollars,” Trump said at the White House gathering on Friday. “That's what he told me. Now he has to do that.”
