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Thousands of jobs, a new multi-billion-dollar campus, and a big money put towards 5G and chips development are just some of the other key lines of spending.
Founder and Editor, The Tech Capital
April 26, 2021 | 3:04 PM BST
Apple Inc. (NASDAQ: AAPL) has today announced plans to invest US$430 billion in the US over the next five years to develop next-generation silicon, spur 5G wireless innovation, data centres amongst other things.
The iPhone maker said it expects the investment – which represent a 20% CAPEX increase – to create 20,000 new jobs across the country, including the construction of a new $1-billion-plus Apple campus in North Carolina.
“At this moment of recovery and rebuilding, Apple is doubling down on our commitment to US innovation and manufacturing with a generational investment reaching communities across all 50 states,” said Apple Chief Executive Officer Tim Cook in a statement.
The company has not shared much on the data centre expansion plans on the back of the $430 billion, however, it is known that at least one new multi-million-dollar cloud facility will be erected in Iowa.
The budget also includes cash that will be used in helping Apple become fully carbon-neutral by 2030.
Apple is yet to reply to The Tech Capital’s request for more information on how much of the $430 billion will be spent on data centres and the locations of investment.
What is known is that the company, now valued at more than $2 trillion, will invest tens of billions of dollars across nine states in chips and 5G networking technology including California, Colorado, Maine, Massachusetts, New York, Oregon, Texas, Vermont and Washington.
According to Apple, the company’s investments in the past three years have outpaced its original five-year goal of $350 billion set in 2018 as the company continues to enjoy rapid growth with shares growing as much as 200% since January that year.
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