Subj : Apple pledges to spend $500 billon in the US over the next few ye
To   : All
From : TechnologyDaily
Date : Mon Feb 24 2025 14:30:08

Apple pledges to spend $500 billon in the US over the next few years

Date:
Mon, 24 Feb 2025 14:21:34 +0000

Description:
Apple will invest the amount of revenue it makes in an entire year by 2029 to 
support US manufacturing and R&D.

FULL STORY
======================================================================Apple 
will invest $500bn in the US by 2029  the equivalent of 12 months revenue 
Servers, currently built out of the country, will be manufactured in Houston 
20,000 new jobs are on the cars, in R&D, silicon, software, AI and ML 

Apple has committed to spending $500 billion over the next four years to 
invest in its facilities and operations across the US, marking its largest 
ever commitment in the States. 

Central to the announcement is Apples intention to support US manufacturing  
something that President Trump is keen to do as he looks to reduce the 
countrys reliance on China, which has been a longstanding manufacturing 
partner for almost all companies. 

Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina 
and Washington will all benefit from the Cupertino giants cash. Apple invests 
half a trillion into the US economy 

Over the next four years, the $3.69 trillion company (and currently the 
worlds most valuable company) is set to invest half a trillion dollars into 
the States, which equates to roughly one years revenue given that the company 
posted a 4% year-over-year rise in quarterly revenue to $124.3 billion in the 
three months ending December 28, 2024. 

CEO Tim Cook said: We are bullish on the future of American innovation, and 
were proud to build on our long-standing U.S. investments with this $500 
billion commitment to our countrys future. 

Key to the announcement is a 250,000-square-foot server manufacturing 
facility in Houston, Texas, where Apple Intelligence-supporting servers are 
set to be built. Until now, servers have been manufactured outside of the US. 

Data center capacity in North Carolina, Iowa, Oregon, Arizona and Nevada will 
also follow as the iPhone maker looks to power its AI. 

Apple will also double its US Advanced Manufacturing Fund from $5 billion to 
$10 billion and increase R&D spend, which it says is important given the 
launch of its new C1 cellular modem  its first in-house effort. 

Looking ahead, Apple says it will focus on R&D, silicon engineering, software 
development, and AI and machine learning roles over the next four years, 
hiring an estimated 20,000 new workers on top of the 2.9 million jobs it 
currently supports in the US. You might also like Check out the best AI tools 
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======================================================================
Link to news story:
https://www.techradar.com/pro/apple-pledges-to-spend-usd500-billon-in-the-us-o
ver-the-next-few-years


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