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President Donald Trump shared a new report revealing that AI semiconductor company Nvidia will spend hundreds of billions of dollars in the U.S. over the next four years.
Trump highlighted the Axios report on his Truth Social account Thursday with the breaking news.
“Overall, we will procure, over the course of the next four years, probably half a trillion dollars’ worth of electronics in total,” Nvidia CEO Jensen Huang told the FT in San Jose, California, where Nvidia is hosting a developer conference.
“[W]e can easily see ourselves manufacturing several hundred billion of it here in the U.S.,” he added.
Nvidia, one of the world’s most valuable companies, marks another financial win for the Trump administration as it seeks to promote American investment. The move follows a major announcement in February when Apple said it will invest $500 billion in the U.S. over the next four years, adding 20,000 American jobs and building a factory in Texas by 2026.
The well-known iPhone and computer maker will work with Hon Hai Precision Industry’s Foxconn to build a 250,000-square-foot facility in the Houston area to assemble servers to power Apple’s AI efforts.
“APPLE HAS JUST ANNOUNCED A RECORD 500 BILLION DOLLAR INVESTMENT IN THE UNITED STATES OF AMERICA. THE REASON, FAITH IN WHAT WE ARE DOING, WITHOUT WHICH, THEY WOULDN’T BE INVESTING TEN CENTS. THANK YOU TIM COOK AND APPLE!!!” Trump posted to Truth Social.
Apple CEO Tim Cook emphasized the company’s new focus on American innovation in part of the company’s announcement.
“We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future,” said Cook.
“From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation,” he continued.
Apple’s statement revealed, “Apple supports more than 2.9 million jobs across the country through direct employment, work with U.S.-based suppliers and manufacturers, and developer jobs in the thriving iOS app economy.”
