Apple Earmarks $500 Billion for U.S. Expansion

Apple AAPL 0.72%increase; green up pointing triangle said it plans to spend more than $500 billion over the next four years, touting a mixture of new and existing initiatives that it said will expand its manufacturing footprint in the U.S.

The iPhone maker’s announcement Monday included expanded spending on chips manufactured in the U.S. by Apple’s partners, and a new 250,000-square-foot factory in Houston. That plant, built with partners, is slated to open in 2026 and produce servers supporting Apple Intelligence, the company’s generative-AI system.

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