Apple has reached an agreement with Broadcom under a new commitment to design and produce custom silicon components and advanced wireless connectivity technologies. The deal, whose total value is expected to exceed $30 billion, will see more than $15 billion worth of chips produced in the US.
In a statement, Apple said the agreement includes the expansion and modernization of Broadcom's manufacturing facilities in Fort Collins, Colorado, with a $1.5 billion capital investment. The company noted that this investment will create hundreds of jobs in the country.
The statement emphasized that these investments are part of Apple's commitment to invest a total of $600 billion in the US economy over four years, and that the investments aim to support manufacturing, employment, and technology development activities.
Broadcom, for its part, announced earlier this week in a filing with the US Securities and Exchange Commission (SEC) that it had decided to extend its collaboration with Apple on the development and supply of custom-designed chips until 2031.