Apple on Monday announced plans to invest $ 1 billion to open a 3,000 3,000-employee campus near Raleigh, North Carolina.
People on campus will work on machine learning, artificial intelligence, software engineering “and other cutting-edge areas,” Apple Said in a press release. Apple did not provide a timeline for when the campus would be completed.
The company said it would also establish a $ 100 million fund to support schools and community initiatives in the Raleigh-Durham area and across the state. This is in addition to the more than $ 110 million Apple expects to invest in infrastructure spending, such as roads and public schools, in broadband spending in 80 North Carolina counties with the greatest need.
Apple’s North Carolina campus will be located in the so-called Research Triangle area, which is named for its proximity to North Carolina State University, Duke University and North Carolina University. Apple CEO Tim Cook holds an MBA from Duke.
“In this time of recovery and reconstruction, Apple is doubling down on our commitment with US Innovation and investment reaching communities in all 50 states,” Cook said in a statement. “We are investing in the next generation of innovative new businesses – from 5G to silicon engineering to artificial intelligence in cutting-edge sectors, and in all our work, working towards a greener and more equitable future.”
The new campus is the latest effort by Apple, which has expanded from its headquarters in California, California, to different communities in our country. In addition, Apple said its $ 1 billion campus in Austin, Texas, is scheduled to open for employees next year and is expanding to other cities that already have teams including Boulder, Colorado and Boston, Massachusetts .
The iPhone giant said that over the next five years, it plans to make more than $ 430 billion in new investments and add 20,000 new jobs nationwide.
Apple shares were up 0.1 percent in early trading on Monday.
Apple is one of several tech giants that have begun expanding outside of Silicon Valley in recent years, driven partly by hiring talent from a wider pool and higher housing costs in the San Francisco Bay Area .
For example, the computer software giant Oracle announced last year that it would move its headquarters from Silicon Valley to Austin, Texas. Seattle-based Amazon Stated earlier this month It now has 1,600 employees, out of 25,000 planned, operating at its second headquarters in Arlington, Virginia. And Mountain View-based Google Announced in 2018 that it would invest $ 1 billion In a new campus in New York City.
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