Tuesday saw the announcement by Apple of a partnership with US tech company Broadcom to develop “cutting edge” wireless connections for 5G telecom networks.
The multi-billion dollar partnership, according to Apple, is “part of a commitment to invest in the US economy.”
Tim Cook, the CEO of Apple, stated in a statement, “We’re excited to make promises that leverage the inventiveness, creativity, and pioneering spirit of American manufacturing.
He continued, “We’ll continue to expand our investments in the US economy because we have an unshakable conviction in America’s future. All of Apple’s products depend on technology designed and produced here in the US.
Although the firm did not specify how much money it had put into the agreement, it did say that it will involve “designing and manufacturing sophisticated radio frequency components and other “cutting-edge wireless connectivity” parts in the United States,” the company claimed.
Apple is investing tens of billions of dollars to advance this industry in the United States, according to the corporation. “5G technology is shaping the future of next-generation consumer electronics,” it said.
Apple, a Silicon Valley technological giant with a net worth of over $2 trillion, is presently attempting “to meet a commitment it made in 2021 to invest $430 billion in the US economy over the course of five years”.
It stated that investments made in data centers, capital projects, and suppliers would be included in the investment calculation.