Apple (AAPL) announced Monday that it will spend and invest more than $500 billion in the US over the next four years, including plans to build a new manufacturing factory, double its advanced manufacturing fund, and hire 20,000 people.
“We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future,” Apple CEO Tim Cook said in a statement.
“From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”
At close: February 21 at 4:00:02 PM EST
Apple’s announcement comes just days after President Donald Trump said Cook promised him hundreds of millions of dollars in US investment, and that the tech giant’s manufacturing would shift from Mexico to the US.
“They don’t want to be in the tariffs,” Trump said Friday.
There is a risk that Apple could among the companies negatively impacted by fresh trade tensions between the US and China in Trump’s second term. The Trump administration imposed a 10% tariff on all Chinese goods earlier this month, though Evercore ISI analysts have estimated the potential financial impact on Apple would be relatively minimal.
Cook is among the American tech leaders who have worked to reestablish or overhaul their relationship with Trump following his reelection.
Cook has reportedly traveled to the president’s Mar-a-Lago estate in Florida, as has Meta (META) CEO Mark Zuckerberg, Alphabet’s (GOOG, GOOGL) Sundar Pichai, and Amazon (AMZN) founder Jeff Bezos.
Following Trump’s election win in November, Cook said in a post on X, the social media platform owned by Trump confidant Elon Musk, that Apple looked “forward to engaging with you and your administration to help make sure the United States continues to lead with and be fueled by ingenuity, innovation, and creativity.”
Monday’s announcement includes plans for Apple and its partners to start the production of servers in Houston later this year, with a 250,000-square-foot server manufacturing facility in Texas is scheduled to open in 2026.
Apple said these servers will play a key role in powering Apple Intelligence, its new AI tools.
Apple will also double its US Advanced Manufacturing Fund, which was established in 2017 to support high-skilled manufacturing jobs. This new commitment will increase the fund to $10 billion from $5 billion.
