Apple announces $500bn in US investments over next four years

Spending ranges from new AI server factory in Texas to film and TV content and may add 20,000 jobs

Apple announced Monday it would invest $500bn in the US in the next four years that would include a giant factory in Texas for artificial intelligence servers and add about 20,000 research and development jobs across the country.

The move comes on the heels of reports that the Apple CEO, Tim Cook, met Donald Trump last week. Many of Apple's products that are assembled in China and imported to the US could face 10% tariffs introduced by the White House earlier this month, though the iPhone maker secured some waivers from China tariffs during the first Trump administration.