Apple announced that it will invest $500 billion in the U.S. The company stated that they will hire 20,000 employees. President Donald Trump expressed his gratitude for Apple’s investment plan.

Tech giant Apple will invest over $500 billion in the U.S. over the next four years. Apple also announced that they will hire 20,000 new employees in the U.S.

In a written statement from Apple, it was mentioned that the company has decided to develop its teams and facilities in Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington.

The statement indicated that among the planned investments is the establishment of a new factory in Texas, and an increase in investments in artificial intelligence and silicon engineering.

These announcements came just a few days after a meeting in the Oval Office between Apple CEO Tim Cook and U.S. President Donald Trump. Trump had announced that Apple would invest hundreds of billions of dollars after the meeting last week. This plan is recorded as the largest U.S. investment commitment in Apple’s history. Cook said, “We will continue to work with people and companies across the country to open an extraordinary new chapter in American innovation history.” President Donald Trump, on his Truthsocial account, stated, “Apple announced a record $500 billion investment in the United States. They wouldn’t invest a dime without the trust we have given. Thanks, Tim Cook and Apple!”