Apple Earmarks $500 Billion for U.S. Expansion
By Dean Seal
Apple said it plans to spend more than $500 billion over the next four years to expand its manufacturing footprint in the U.S.
The company said Monday that it plans to hire around 20,000 people as part of the effort and build a factory in Houston that will create thousands of jobs.
The new factory is to produce servers supporting Apple Intelligence, the company's generative-AI system.
Apple also plans to double its U.S. Advanced Manufacturing Fund, which was created in 2017 to invest in U.S. companies that do advanced manufacturing.
"We are bullish on the future of American innovation, and we're proud to build on our long2standing U.S. investments," Chief Executive Tim Cook said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 24, 2025 06:26 ET (11:26 GMT)
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