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Apple unveils historic $500B investment in US manufacturing, innovation: 'Bullish on the future'

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Apple's announcement comes after President Donald Trump said he met with the company's CEO Tim Cook

Apple is committing $500 billion to the U.S. economy in a historic initiative, the company announced on Monday, marking "an extraordinary new chapter in the history of American innovation."

Apple's 11-figure commitment will roll out over the next five years. It will involve building an advanced AI server manufacturing factory near Houston, as well as doubling the company's Advanced Manufacturing Fund from $5 billion to $10 billion.

The tech giant also plans to establish an Apple Manufacturing Academy in Detroit, as well as hire 20,000 new employees with focuses on research and development, silicon engineering, artificial intelligence and machine learning.

"This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country," the company said in a statement.

Apple also plans to expand teams and facilities in numerous states, including Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina and Washington. In a statement, Apple CEO Tim Cook said that his company is "bullish on the future of American innovation."

https://www.foxbusiness.com/technology/apple-unveils-historic-500-billion-investment-u-s-manufacturing-innovation-bullish-future