Apple (AAPL) said Wednesday it is launching a $100 billion American Manufacturing Program to bring more of its supply chain and advanced manufacturing to the US.
The new commitment increases Apple's US investment to $600 billion over the next four years, the company said.
The program will expand Apple's work with 10 key suppliers, including Corning (GLW), Texas Instruments (TXN), Samsung Electronics, Broadcom (AVGO), and GlobalFoundries (GFS), with new and expanded facilities planned in Kentucky, Texas, Utah, and Arizona.
Apple said the initiative will help create an end-to-end silicon supply chain in the US that will support the production of over 19 billion chips for Apple products in 2025.
New projects include a smartphone glass production line with Corning in Kentucky, chip manufacturing at Taiwan Semiconductor Manufacturing (TSM) and Amkor Technology (AMKR) in Arizona, and new rare earth magnet and recycling line with MP Materials (MP) in Texas and California.
Shares of Apple were up over 3% in Thursday premarket activity.
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