A little under a year ago, Apple promised to invest $600 billion in the U.S. over a four-year period through an American Manufacturing Program (AMP). The company has today announced its largest single AMP commitment to date: a $30 billion Broadcom chip contract.
The iPhone maker says that the deal will help Broadcom expand its Colorado plant, and lead to the production of more than 15 billion US-made chips …
Broadcom had earlier announced an expanded partnership with Apple to develop and supply a range of custom chips, but the value of the contract had not been revealed at that point.
Broadcom said on Monday it has agreed to expand its partnership with Apple through 2031 to develop and supply a range of custom chips
Apple has today provided more detail on the partnership.
The new agreement, expected to exceed $30 billion, will lead to the production of more than 15 billion U.S.-made chips and support hundreds of American jobs […] This new agreement, which marks Apple’s largest AMP commitment to date, will enable Broadcom to expand and modernize its manufacturing facilities in Fort Collins, Colorado, with a $1.5 billion capital expenditure investment.
CEO Tim Cook said the company was proud to deepen its investment in the US economy.
“The cutting-edge components built in Fort Collins are essential to delivering the incredible performance and connectivity our customers expect, and we’re proud to deepen our investments in U.S.-based suppliers that share our commitment to excellence and innovation.”
Apple started with a $100 billion AMP commitment, which it said would reach $600 billion over the next four years. An earlier US chip deal with Samsung was announced last year.
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