Apple is creating a $1 billion fund to promote advanced manufacturing jobs in the United States, CEO Tim Cook announced during a CNBC interview. Cook said Apple will reveal its first investments from the fund later this month.
Apple CEO Tim Cook said that his company will start a $1 billion fund to promote advanced manufacturing jobs in the United States.
“We’re announcing it today. So you’re the first person I’m telling,” Cook told “Mad Money” host Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already,” he said, adding that Apple will announce the first investment later in May.
The fund comes as President Donald Trump has made bringing back manufacturing jobs a big part of his agenda, and it fits into Apple’s larger effort to create jobs across its spectrum, from its own employees to app developers to its suppliers.