Apple commits $30 billion to Broadcom for U.S. chipmaking push

Apple said it’s expanding its partnership with chipmaker Broadcom in a multi-year deal expected to exceed $30 billion, marking the iPhone maker’s largest U.S. manufacturing commitment to date.

Shares of Broadcom climbed climbed almost 5% after the announcement on Wednesday.

The agreement will lead to the production of more than 15 billion U.S.-made chips and includes a $1.5 billion expansion of Broadcom’s facility in Fort Collins, Colorado. Apple didn’t provide a timeline for when the new capacity will come online.