WINNING! Apple to Invest $500 Billion in U.S. After Trump Meeting With CEO Tim Cook — Will Add 20,000 Jobs Over Next Four Years

Apple is betting on the continued strength of the U.S. economy under Donald Trump.

Following a meeting between Trump and Apple CEO Tim Cook, who was also in attendance at his inauguration last month, the technology giant has confirmed it will invest a staggering $500 billion in the U.S. and add 20,000 jobs over the next four years.

Bloomberg provides the details:

The company said Monday that it plans to spend $500 billion domestically over the next four years, which will include work on a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country.

The disclosure comes days after Trump and Apple Chief Executive Officer Tim Cook met in the Oval Office.

“He’s investing hundreds of billions of dollars,” Trump said after the meeting last week. He implied that the iPhone maker is investing locally because it does not want to pay tariffs.

Trump has threatened an additional 10% tax on items imported from China, where Apple builds the vast majority of iPhones and other products. But he has traded investment in the US for relief in the past.

The $500 billion investment and 20,000 new jobs over the next four years mark Apple’s biggest US commitment to date.

In a statement, Tim Cook said he was “bullish” about the future of American innovation.

“We are bullish on the future of American innovation, and we’re proud to build on our long-standing US investments with this $500 billion commitment to our country’s future,” Cook said in a statement.

“We’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”

Apple and Foxconn will begin producing Private Cloud Compute servers in Houston this year, shifting some cloud infrastructure manufacturing from overseas. A 250,000-square-foot facility for server production is set to open in the city next year.

Apple is also expanding data center capacity in Arizona, Oregon, Iowa, Nevada, and North Carolina, reinforcing its U.S. infrastructure.

While M-series chips powering these servers are still produced in Taiwan, Apple confirmed that mass production of chips began last month at TSMC’s Arizona plant, supplying components for Apple Watches and iPads.